There was a 19 % drop to 11,167 individual insolvencies, which consist of bankruptcies and safeguarded trust deeds, down from 13,793 for 2013-14.
The number of bankruptcies succumbed to the sixth consecutive year, to 6,730 in 2014-15.
This was a 5.4 % drop on the previous year, according to the annual report for Accounting professional in Bankruptcy (AiB), which provides the procedure of personal bankruptcy and records corporate insolvencies in Scotland.Meanwhile, there was
a 33.6 % yearly drop in safeguarded trust deeds, with 4,437 i n 2014-15. AIB stated that in spite of a fall in bankruptcies, funds returned to creditors continue to rise through secured trust deeds and financial obligation payment programs authorized through the debt plan scheme( DAS).