Keeping Up With the Scots

Posted on Jan 27, 2023. by NTI

Let's be honest, should we? (I'll start) ... we English love the Scots, despite the fact they don't seem to like us. Personally we in the NTI newsroom have never met a nasty one and any nation who can bathe themselves in whisky midweek, whilst celebrating a very fine poet and chatting to a sheep's stomach is very fine with us.

Sure, we compete with them a little and tug their chains, but when the Accountant in Bankruptcy (AiB) publishes official statistics on statutory debt solutions in Scotland for the third quarter of the financial year 2022-23 we are both interested and impressed.

The AiB recorded 1,966 personal insolvencies in Scotland for Q3 2022-23. There were 101, which is 4.9 per cent fewer than in the correspomding quarter of 2021-22. Additionally, the data showed 574 Bankruptcies were awarded during quarter three of 2022-23, a decrease of 10 per cent compared to Q3 2021-22. As you know, we recorded similar unimpressive personal insolvencies in England and Wales for December - haven't any of us heard there is a cost of living crisis going on (they haven't heard about in Neil's local Indian, either - he has just moaned about the fact they told him they are fully booked for the next three weeks. What is going on?)

The headlines are as follows:

• 490 Bankruptcy awards were made following applications submitted to AiB, all through the revised fee structure; 352 (71.8 per cent) of applicants were not required to pay any fee at all

• 785 applications for moratoria granted: 46 (6.2 per cent) more than the figure of 739 granted in quarter three of 2021-2022

• 1,309 Debt Payment Programmes under the Debt Arrangement Scheme approved in Q3 2022-23, compared to 1,102 approved in Q3 2021-2022

• 440 approved Debt Payment Programmes under the Deby Arrangement Scheme were completed; a 16.1 per cent increase compared to the same quarter in 2021-2022

• 283 Debt Payment Programes revoked; 253 fewer than the figure of 536 revoked in quarter three of 2021-2022

« Back to articles