Interesting stats put out by the Accountant in Bankruptcy today showing that the numbers of bankruptcies fell by a quarter from 2014/15 to 2015/16. The numbers entering DAS also fell by around 1/2 over the same period. The number of Trust Deeds stayed fairly constant.

Hard to know the reasons for this, but I'd be surprised if it is wholly down to less people falling into debt problems. Rather, I wonder if it may be connected to the legislative changes last year, which introduced a lot more demanding evidence requirements, as well as much less flexibility in assessing how much a person has to pay into a formal solution.

For DAS in particular, maybe the process has become too restrictive and difficult, so people are choosing just to try and come to informal arrangements with their creditors instead? If so then it is a worrying development given the much better protection offered in a DAS.

I wouldn't be at all surprised to see further changes to DAS to reverse this trend following the recent AIB consultation on the subject.