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there are still a lot of people suffering

Positive news has been announced in Scotland, as the number of personal bankruptcies is at its lowest level for nearly a decade. A spokesperson from Trust Deed Scotland responds to the report.

Scottish bankruptcy figures have fallen to their lowest point since before the recession, with a total of 2,633 personal insolvencies for the three months to the end of December. The figures include bankruptcies and protected trust deeds, which are 12 per cent down on the previous quarter and 21.3 per cent lower compared to the year before.

The figures haven’t been this low since before the global economic downturn in 2007-08. There was also good news for Scottish businesses, who suffered fewer liquidations and receiverships. “It is extremely encouraging to see personal insolvencies continue to fall year-on-year,” claimed business minister Fergus Ewing.

“Fewer companies going to the wall is also welcome news, as this means more businesses are contributing to the Scottish economy and more jobs are being retained. There can be no doubt insolvencies falling back to pre-recession levels reflects the improving economic picture in Scotland – but there is no room for complacency.”

Trust Deed Scotland, a leading provider of debt advice in Scotland, takes a keen interest in reports such as this. A spokesperson said: “These figures are very positive and show that the economy is picking up slightly. It’s also great news that businesses are enjoying a better time, too, as this results in more jobs and a healthier economy.

“However there’s still a long way to go and there are still a lot of people suffering with money problems. For anybody who feels like they can’t take control of their finances, Trust Deed Scotland is here to help. Our experts can provide you with details on how to take control of your debt and inform you of all of your options, telling you the best route to take next. Give us a call today and see how we can help you.”

Trust Deed Scotland Ltd is a leading debt advisory service for Scottish residents. They are 100% owned and operated in Scotland, with a 98% trustpilot rating owing to their free, qualified debt advice. They are able to advise on the suitability of Trust Deeds and a number of alternatives, including The Debt Arrangement Scheme, Debt consolidation and Sequestration.

This press release was distributed by ResponseSource Press Release Wire on behalf of Trust Deed Scotland in the following categories: Personal Finance, Business & Finance, for more information visit