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Insolvencies fall in Scotland
The number of individual insolvencies in Scotland actually came down in the first three months of the year, according to recent figures from the Insolvency Service.
In Scotland, 5,175 people were declared insolvent in the first quarter of 2010. This was a decrease of around 10% on the figure from the previous quarter (and on the figure from the first quarter of 2009 as well).
Insolvencies: debtors` petitions rising
On Friday 7th May, the Insolvency Service released its quarterly figures showing how many people had been declared insolvent - i.e. entered bankruptcy, an IVA, a DRO (Debt Relief Order), or a Trust Deed.
The Ministry of Justice (MoJ) has also released its figures, which show - among other things - how many of the bankruptcies were started by debtors and how many by creditors.
Company insolvencies drop off
The number of companies going out of business fall quite sharply at the start of 2010, statistics from the Insolvency Service have revealed.
This time last year, we learned that there had been 4,964 company liquidations in England and Wales in the first three months of 2009.
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