The number of people facing financial hardship has increased in Scotland, according to official statistics published on Wednesday.
A report by the Scottish insolvency service Accountant in Bankruptcy (AiB) indicates the total number of personal insolvenciesrecorded in the third quarter for 2018-2019 was 3,198.
It represents an increase of 18% on the same period for 2017-2018, when the figure was 2,707.
The total number of personal insolvencies is calculated by combining bankruptcies, a legal declaration that someone cannot pay their debts and protected trust deeds (PTDs), which is a form of insolvency that transfers a debtors estate to a trustee to be realised for the benefit of creditors.
The figures state there were 1,217 bankruptcies…
Read the full article at: https://www.shropshirestar.com/news/uk-news/2019/01/23/rise-in-number-of-scots-going-bust-report-indicates/