Latest Insolvency Figures Released

 The Accountant in Bankruptcy's office has released the fourth quarter insolvency figures for 2011/12.

The latest statistics show the number of sequestrations have fallen slightly since the last quarter and by 3% on the same period last year. 

Protected Trust Deeds have increased by 10% in this quarter and by 43% on the corresponding period last year.

Debt Payment Programmes are up 7% on the last quarter and by 97% on the same period last year. 

Government Minister Fergus Ewing said:

"Personal insolvencies have increased slightly this quarter due to an increase in protected trust deeds, although it is encouraging to see that, overall, bankruptcies have shown no increase compared to last quarter."

 

“I am pleased to see that the Debt Arrangement Scheme continues to see an increase in debt payment programmes approved, following AiB’s continuing efforts to raise awareness of the Scheme and its benefits. The freezing of interest and charges for debtors and a return of at least 90 per cent for creditors makes this a good option for both parties.”