How the changes to Scottish bankruptcy affect consumers

Now that there are new bankruptcy rules in Scotland, the process has become easier. People seem to have been taking advantage of this as bankruptcy figures have been rising, almost doubling since the new rules. The 2,853 cases that were received between April and June are a 104% on the previous quarter. The same quarter last year had 78% fewer applications.

The total number of individual bankruptcies, 4,735, comprises the above-mentioned 2,853 cases. It is a 44% increase during the April to June quarter, with a 35% increase on the same period in 2007.