Accountant in Bankruptcy (AiB) has released official statistics reporting statutory debt solutions and company insolvencies in Scotland for the second quarter (October to December 2024) of the financial year 2024-25.

Scottish Statutory Debt Solutions Statistics for 2024-25 Quarter 3

There were 1,784 personal insolvencies (bankruptcies and PTDs) in 2024-25 Q3, 230 (11.4%) fewer than in the same quarter in the previous financial year (2023-24 Q3).

A total of 617 bankruptcies were awarded during this quarter – a decrease of 0.6% when compared to the same quarter in 2023-24. PTDs have decreased by 16.2% since 2023-24 Q3 with 1,167 in 2024-25 Q3.

In Q3 of 2024-25, a total of 506 bankruptcy awards were made following applications submitted to AiB, all through the revised fee structure. Of this total, 467 (92.3%) applicants were not required to pay any fee at all.

There were 897 applications for moratoria granted in 2024-25 Q3. This is 43 (6.3%) more than the figure of 844 granted in the same quarter in 2023-24.

There were 1,330 debt payment programmes (DPPs) under the DAS approved in 2024-25 Q3, compared with 1,481 approved in the same quarter of 2023-24 representing a decrease of 10.2%.

A total of 543 DPPs under the DAS were completed in 2024-25 Q3 – a 27.5% increase on the same quarter in 2023-24.

There were 555 DPPs revoked in 2024-25 Q3. This is 147 more than the 408 DPPs revoked in the same quarter of 2023-24, an increase of 36%.

The number of Scottish registered companies becoming insolvent or entering receivership decreased in the third quarter of 2024-25 when comparing to the same quarter in 2023-24, with 285 companies becoming insolvent, 2.4% less than the third quarter of 2023-24 where 292 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.

Background

A full statement of Scottish Statutory Debt Solutions statistics for the second quarter of 2024-25 is available: Quarterly statistics | Accountant in Bankruptcy (aib.gov.uk)