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Scottish Statutory Debt Solutions Statistics: October to December 2023 (2023-24 Quarter 3)

An Official Statistics Publication for Scotland


Main points for October to December 2023

There were 2,014 personal insolvencies (bankruptcies and protected trust deeds (PTDs)) in 2023-24 Q3. This is an increase of 2.0% when compared with 2022-23 Q3.

In 2023-24 Q3, 499 debtor applications for bankruptcy benefitted from the revised fee structure. Of these, 474 cases (95.0%) paid no fee at all.

Under the Debt Arrangement Scheme (DAS), there were 1,481 Debt Payment Programmes (DPPs) approved in 2023-24 Q3. This is an increase of 13.1% when compared with 1,309 from 2022-23 Q3.

Chart 1 below shows the number of Personal insolvencies and DAS DPPs since 2009-10 Q1.

DAS DPPs approvals continue to rise, with the Q3 2023-24 seeing the highest number of approvals since the introduction of DAS

Chart 1: Number of debt solutions by type since April-June 2009

Chart 1 shows the total number of personal insolvencies awarded and Debt Arrangement Scheme (DAS) Debt Payment Programmes (DPPs) approved between 2009-10 Q1 and 2023-24 Q3. This chart shows that personal insolvencies remain larger than DPPs under the DAS.

There were 842 applications for moratoria granted in 2023-24 Q3. An increase of 7.3% when compared with 2022-23 Q3.

Corporate insolvencies increased from 272 in 2022-23 Q3 to 292 in 2023-24 Q3.

Further comparisons on the main Scottish Statutory Debt Solutions can be found in Table 1 below.

Table 1. Summary of the latest Scottish Statutory Debt Solutions Statistics [p]
Financial quarter 2022-23 Q1 2022-23 Q2 2022-23 Q3 2022-23 Q4 2023-24 Q1 2023-24 Q2 2023-24 Q3 2023-24 Q4 Q3 vs Q3 change
Bankruptcies 587 593 583 594 693 578 621 [x] 6.5%
Protected trust deeds 1,451 1,480 1,391 1,322 1,409 1,504 1,393 [x] 0.1%
Total personal insolvencies 2,038 2,073 1,974 1,916 2,102 2,082 2,014 [x] 2.0%
Approved DPP under DAS 1,182 1,251 1,309 1,205 1,328 1,235 1,481 [x] 13.1%
Amount repaid under DAS (£ million) 11.3 12.3 11.6 11.8 12.1 12.4 12.8 [x] 10.6%
Moratoria on diligence granted 722 879 785 882 776 886 842 [x] 7.3%
Total corporate insolvencies 244 270 272 346 292 283 292 [x] 7.4%
Source: Accountant in Bankruptcy

Note

[p] Provisional. Figures for the financial year 2023-24 remain provisional until validation in July 2024.

[x] Data not (yet) available.

Chart 2 shows the quarterly trend of personal insolvencies for last two financial years. It shows both quarterly and cumulative personal insolvencies. Comparisons can be made between the two financial years.

Personal insolvency numbers for each quarter of 2023-24 are so far consistent with volumes in 2022-23


Chart 2: Quarterly personal insolvencies, 2022-23 and 2023-24

Chart 2 shows the quarterly and cumulative personal insolvences for 2022-23 and 2023-24. This chart shows that levels of personal insolvencies in 2023-24 were slightly higher than in 2022-23.

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