Scotland’s Top 10 Insolvency Hotspots

One of Scotland’s leading providers of financial help, Scottishtrustdeed.co.uk, recently compiled a report on Scotland’s top insolvency hotspots from 2018, News Reel Hub reported. Glasgow and Edinburgh may have some of the highest numbers of insolvencies in terms of pure numbers, but it’s people living in rural communities, ‘fringe’ areas and Dundee who face the biggest risk of bankruptcy. The Accountant in Bankruptcy’s (AiB) latest report shows that a total of 4,644 people were declared bankrupt in the period 2017/18, representing an increase of 1.8% on the previous year. The report also reveals that 73% of bankruptcy applications in Scotland were made by the individuals rather than creditors with just four applications made by trust deed petitions which occur when an individual has breached the terms of a Scottish Trust Deed. Read more