The number of Scots going bust has fallen compared with a year ago, the latest figures show.
Personal insolvencies, which include bankruptcies and those who sign protected trust deeds, totalled 2,345 in the three months to December.
The figure is up 5.2% on the previous quarter but down 11% on the same period the previous year.
The number of new debt payment programmes approved under the Debt Arrangement Scheme increased 13.4% to 517 after several quarters of decline.
The figures from the Accountant in Bankruptcy agency also show the number of Scottish business failures rose from 180 in the previous quarter to 254.
Tim Cooper, chairman of insolvency trade body R3 in Scotland, said: “There has been a substantial increase in the number of corporate insolvencies this quarter, which goes against the downward trend we’ve seen in recent years.
“Over the course of this year, we are likely to experience further stress in the oil and gas sectors, and that having a wider impact across Scotland. Many sectors may already be feeling the effects, including the supply, leisure and hospitality industries.
“We could see the numbers rise further when an interest rate rise comes, and thousands of ’zombie’ businesses are no longer able to keep their heads above water when it comes to meeting their repayments.”
The Scottish Government said the figures showed a return to relative stability after new legislation amending the laws governing bankruptcy came into effect on April 1.
Business Minister Fergus Ewing said: “The changes we introduced last year introduced the Scotland’s Financial Health Service website and helpline to direct people worried about their finances to trusted sources of advice and information. We also improved access to debt relief for the most financially vulnerable people in Scotland.
“Innovative measures like compulsory money advice, financial education and a new route into bankruptcy for people with few assets have now been absorbed by the industry and those most in need are now accessing the debt relief they require to help them on the road to a fresh financial start.
“It is nevertheless clear the big picture shows a decline in the number of people having to utilise a statutory debt relief or debt management product.
“The numbers are significantly down on last year and we will do everything we can to ensure this long-term trend continues.”
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