Bankruptcy – New Insolvency Statistics

The new bankruptcy statistics released by the Accountant In Bankruptcy today highlight that 2,687entered bankrutpcy in the last three months to relieve their debt problem. The increase is believed to be due to new available routes into bankruptcy.

The bankruptcy statistics increased by 8% quarter on quarter. The routes into bankruptcy can be split as follows;

There were;

  • 68 petitions by the trustee in a trust deed for bankruptcy
  • 446 creditor petitions to the court

Year on Year

While the LILA route to bankruptcy was down 37%, other routes were up 68% collectively.

 

Debt Support Trust is a registered charity SC041902 which provides the following debt solutions

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed

Refinance

Bankruptcy

Sequestration

Debt Management Plan