Dozens of Scots are expected to become bankrupt every day this year as rising household bills and sluggish wage growth continue to impact personal finances.
Last year, about 12,000 people are thought to have been sequestered, the Scottish term for bankruptcy, or had to take out a protected trust deed, a form of personal insolvency that gives legal protections to pay creditors. This is equivalent to more than 30 people each day, or about 230 per week in the worst year for personal financial troubles since 2013.
Campbell Dallas, the accountancy company, said the figure was likely to be similar this year. It warned that with intere…
Read the full article at: https://www.thetimes.co.uk/article/thousands-of-scots-expected-to-file-for-bankruptcy-in-2019-vms377chv