More Scots are falling into serious financial difficulty as inflation and slow wage growth affect household budgets.
Figures from the Accountant in Bankruptcy showed more than 3,200 people entered personal insolvency between April and June, a rise of almost 12 per cent compared with the same period last year.
The increase followed a 27.5 per cent rise in people taking out protected trust deeds, a form of insolvency that offers protection from creditors, with 1,972 cases recorded.
In contrast personal bankruptcy declined by 6.5 per cent to 1,236. Within that figure, there was an increase in the number of minimal asset process bankruptcies, typically for people without tangible assets or savings.
There was also an increase in those taking …
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