Scottish Statutory Debt Solutions Statistics: October to December 2023 (2023-24 Quarter 3)

Scottish Statutory Debt Solutions Statistics for 2023-24 Quarter 3

There were 2,014 personal insolvencies (bankruptcies and PTDs) in 2023-24 Q3, 40 (2.0%) more than in the same quarter in the previous financial year (2022-23 Q3).

A total of 621 bankruptcies were awarded during this quarter – an increase of 6.5% when compared to the same quarter in 2022-23. PTDs are at a similar level to 2022-23 Q3 at 1,393 an increase of 2 (0.1%).

In the third quarter of 2023-24, a total of 499 bankruptcy awards were made following applications submitted to AiB, all through the revised fee structure. Of this total, 474 (95.0%) applicants were not required to pay any fee at all.

There were 842 applications for moratoria granted in 2023-24 Q3. This is 57 (7.3%) more than the figure of 785 granted in the same quarter in 2022-23.

There were 1,481 debt payment programmes (DPPs) under the DAS approved in 2023-24 Q3, compared with 1,309 approved in the same quarter of 2022-23 an increase of 13.1%

A total of 425 DPPs under the DAS were completed in 2023-24 Q3 – a 3.4% decrease on the same quarter in 2022-23.

There were 409 DPPs revoked in 2023-24 Q3. This is 127 more than the 282 DPPs revoked in the same quarter of 2022-23, an increase of 45.0%.

The number of Scottish registered companies becoming insolvent or entering receivership increased in the third quarter of 2023-24 when comparing to the same quarter in 2022-23, with 292 companies becoming insolvent, 7.4% more than in quarter three of 2022-23 where 272 companies became insolvent.

The figures released today were produced in accordance with the professional standards set out in the Code of Practice for Official Statistics.

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