Bankruptcies decreased by 39.3% in the year to the end of November 2020 when compared with the same period the year before. PTDs decreased by 29.3% over the same period.
There were 3,032 approved DPPs under Debt Arrangement Scheme in the year to the end of October 2020 compared with 2,554 for the same period the year before, an increase of 18.7%.
The introduction of new provisions on the statutory moratorium and the revised fee structures in place for accessing bankruptcy are part of emergency measures brought in by both the Coronavirus (Scotland) Act 2020 and the Coronavirus (Scotland) (No.2) Act 2020.
As at 30 November 2020, 1,027 applications for moratoria had been granted under the new powers.
In the period between 27 May and 30 November 2020, there were 1,244 new applications for bankruptcy that benefitted from the reduced application fee – 984 (79.1%) of which paid no application fee at all.