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Registry Trust, the not-for-profit organisation which maintains the Register of Judgments, Orders and Fines for the UK & Ireland, has released its Q2 2022 statistics report. The report shows a decrease in the number of Scottish decrees against consumers in Scotland. The total number of decrees registered against Scottish consumers has decreased by 9%, from 3,991 in Q2 2021 to 3,632 in Q2 2022.

However, the value of consumer debt has seen an increase of 5% year-on-year, from £12.1 million in Q2 2021 to £12.7 million in Q2 2022. The average value of consumer debt rose by 15% year-on-year, from £3,043.89 to £3,502.11. Furthermore, there has been a decrease in the number of satisfied judgments year-on-year from 285 to 209, a decrease of 27%.

Registry Trust Data Analyst, Sukanya Guha notes:

“Although the fall in the number of decrees might seem like good news, the rise in the average value of consumer debt is concerning. Increasing energy bills and the cost of living crisis will likely increase these figures further. Times are tough for Scottish businesses, too. The dramatic increase in the value of business debt has trended consistently over the first two quarters of 2022. Registry Trust research has proven that financial judgments are an early indicator of business insolvency, therefore serious attention needs to be paid to this canary in the coal mine”

Read Registry Trust’s complete Q2 2022 stats report here and our journey from CCJ to insolvency blog here

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