Debt solutions - Insolvency down in Scotland
21/10/2010There was good news for people in Scotland seeking debt solutions, as the nation's insolvency figures show that personal insolvencies have dropped by 32 per cent in the second quarter of 2010.
The Scottish Government department, the Accountant in bankruptcy, says that between the months of July and September 5,200 consumers were announced as insolvent.
This was a four per cent decline on the first quarter of this year, while 497 Debt Payment Programmes were also approved.
Minister for Community Safety, Fergus Ewing, praised the effectiveness of debt solutions – which were way up on the same quarter, last year.
He said: "Choosing a debt solution appropriate to their circumstances, rather than the severity of bankruptcy, gives both parties an opportunity to arrive at a better outcome for everyone
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