The number of people in Scotland paying off their debts in full has increased, according to provisional figures from the Accountant in Bankruptcy (AiB). AiB, which administers the insolvency regime in Scotland, found that a total of £9.2m was repaid through Debt Arrangement Schemes (DAS) for the fourth quarter of 2016/17, down from £9.6m during the previous quarter. The DAS is an approved debt payment programme backed by the Scottish government and allows debtors to pay their debts in full without facing insolvency. Between January and March this year, the number of these schemes completed in full by around 29 percent to 423, from 328 a year ago. During the same period, total personal insolvencies in Scotland fell about four percent compared to the previous three months. Bankruptcies dropped 0.4 percent to 1,112, while protected trust deeds recorded fell by a bigger margin - by 6.6 percent to 1,401.

When assessed on an annual basis, however, the figures show personal insolvencies in Scotland are rising. Between January and March this year, the total hit 2,513, an 11 percent increase on a year ago. As for the year 2016/17 as a whole, the number of personal insolvencies rose by 18 percent, but this remains the second lowest total in the last decade.

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