Accountant in Bankruptcy (AiB) has released official statistics reporting statutory debt solutions and company insolvencies in Scotland for the second quarter (July to September 2023) of the financial year 2023-24.
Scottish Statutory Debt Solutions Statistics for 2023-24 Quarter 2
There were 2,074 personal insolvencies (bankruptcies and PTDs) in 2023-24 Q2, 1 more than in the same quarter in the previous financial year (2022-23 Q2).
A total of 570 bankruptcies were awarded during this quarter – a decrease of 3.9% when compared to the same quarter in 2022-23. PTDs increased by 1.6% to 1,504 over the same period.
In the second quarter of 2023-24, a total of 485 bankruptcy awards were made following applications submitted to AiB, all through the revised fee structure. Of this total, 460 (94.8%) applicants were not required to pay any fee at all.
There were 886 applications for moratoria granted in 2023-24 Q2. This is 7 (0.8%) more than the figure of 879 granted in the same quarter in 2022-23.
There were 1,235 debt payment programmes (DPPs) under the Debt Arrangement Scheme (DAS) approved in 2023-24 Q2, a decrease of 1.3% compared with the same quarter of 2022-23 where 1,251 DPPs were approved.
A total of 477 DPPs under the DAS were completed in 2023-24 Q2 – an 8.3% decrease on the same quarter in 2022-23.
There were 465 DPPs revoked in 2023-24 Q2. This is 62 more than the figure of 403 revoked in the same quarter of 2022-23, an increase of 15.4%.
The number of Scottish registered companies becoming insolvent or entering receivership increased in the second quarter of 2023-24, with 283 companies becoming insolvent, 4.8% more than the figure (270) in the same quarter of 2022-23.
The figures released today were produced in accordance with the professional standards set out in the Code of Practice for Official Statistics.
