Scots personal insolvencies fall

The number of Scots becoming insolvent has fallen in the first three months of this year.

According to the Accountant in Bankruptcy (AiB), 4,262 people were declared insolvent between January and March - a drop of 7%.

However there was an 8% increase in the number of people declared bankrupt.

Meanwhile the number of companies going bust rose by 11% in the first quarter and increased by 4% compared with a year ago.

Insolvency is when an individual or firm has no means to repay debt, whereas a bankrupted person or firm has assets to sell in order to pay off the debt.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Scotland business stories



Copyright © 2015 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.