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;
- 1,204 awards made through the LILA route
- 555 awards through the new Certificate for Sequestration route.
- 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