The statistics show 12,190 Scottish debtors became subject to a formal debt remedy in 2016/17.
This was a year-on-year increase of 16 per cent on the 10,515 who entered a remedy in 2015/16.
This increase is the first overall increase in numbers for five years.
The figures released show that although there is an overall increase in the number of debtors entering into a formal debt remedy, the total amount of formal debt remedies being used each year is still at a level lower than it was 11 years ago.
The number of debtors applying for the Debt Arrangement Scheme is 46 per cent lower than they were in 2014/15, and the number of consumers being declared bankrupt is 33 per cent lower over the same period.
However, the devil is i…
Read the full article at: http://www.insider.co.uk/special-reports/scotlands-new-debt-laws-could-10340971