The Stage Three Review of Scotland's statutory debt solutions published its final report on 12 March 2026, setting out 52 recommendations for consideration by the Scottish Government1. The review was commissioned by Scottish Ministers as a longer-term strategic examination of the system, and the report concludes the latest phase of that work1.
The review was led by Yvonne MacDermid OBE, appointed by Scottish Ministers in September 2023, with Craig Simmons and Colin Kinloch joining the team when it formally launched in March 20241. The final report is published alongside a Feedback and Recommendations report, which summarises the responses to the March 2025 consultation and explains the rationale for each recommendation1. Two nationally representative surveys were also carried out by ScotPulse on behalf of the review team, covering people with personal debts and self-employed small business owners1.
The review team said:
"The people of Scotland deserve the most progressive insolvency regime in the world and we believe our recommendations, if fully implemented, put the country firmly on the path towards that."
Minister for Public Finance Ivan McKee said the Scottish Government would take time to consider the recommendations, adding that he had "no doubt" they would help improve the debt landscape for the people of Scotland1. The report covers statutory debt solutions including the Debt Arrangement Scheme, Protected Trust Deeds, bankruptcy and moratoriums1.
Why it matters for households
The recommendations are not yet law. They have been put to the Scottish Government for consideration, and no decision has been announced on whether any will be taken forward1. For people in Scotland dealing with problem debt, the practical effect of the report is therefore indirect for now: the formal solutions available, including bankruptcy and IVAs, the fees attached to them and the statutory demand process are unchanged by the publication itself. The review's remit was to determine whether the current system continues to meet Scotland's needs, and its findings cover how well the existing solutions work for people in debt, creditors and practitioners1. Any change to eligibility, costs or procedure would follow a government response and subsequent legislation, neither of which has been announced.
What happens next
A formal response from the Scottish Government will be issued after the Parliamentary Election1. No date for that response has been reported. The final report and the Feedback and Recommendations report are both published by the Accountant in Bankruptcy, the agency that administers Scotland's statutory debt solutions1. Further information on the review process is available in the Review of Statutory Debt Solutions section of the AiB website1.
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