Cookies disclaimer

I agree Our site saves small pieces of text information (cookies) on your device in order to deliver better content and for statistical purposes. You can disable the usage of cookies by changing the settings of your browser. By browsing our website without changing the browser settings you grant us permission to store that information on your device.


THE NUMBER OF DEBT JUDGMENTS ISSUED AGAINST CONSUMERS IN THE ISLE OF MAN FELL BY MORE THAN HALF IN 2020

The number of judgments issued in the Isle of Man Courts of Justice against consumers fell by more than half (51%) in 2020 compared to 2019, according to data published today (08.01.2021) by Registry Trust.

The total number of judgments issued against consumers in 2020 was 217, a fall of 51 percent compared to the 447 in 2019. The value of those judgments was more or less unchanged, falling by less than one percent from £2.38 million to £2.36 million. As a result, the average value more than doubled from £5,319 to £10,856. The median also rose, by 20 percent, from £647 to £778.

Judgments against Isle of Man businesses also fell. The numbers of judgments against businesses in 2020 was 48, a fall of 43 percent from the 85 issued in 2019.

The value of business judgments registered in 2020 more than doubled, up 103 percent from just under £0.5 million to over £1 million. As a result, the average value of business judgments saw a large rise of 259 percent, from £5,836 to £20,960. The median value rose by 26 percent from £2,100 to £2,652.

Registry Trust chairman, Mick McAteer said: “The protections provided by policy and regulatory interventions, and creditor forbearance, when Covid-19 hit meant judgment activity had entered a state of almost suspended animation. As a result, consumer judgments halved during 2020. But, the latest data would suggest that consumer judgments are on the rise again after that period of respite. The number of judgments against businesses fell again with creditors taking out fewer, larger judgments”.

Half Year 2019 Half Year 2020 Change (compared with 2019)
Judgments against consumers
volume 447 217 -51.45%
total value £2,377,483 £2,355,662 -0.92%
average* value £5,319 £10,856 104.10%
median value £647 £778 20.25%
Judgments against all businesses
volume 85 48 -43.53%
total value £496,038 £1,006,073 102.82%
average* value £5,836 £20,960 259.16%
median value £2,100 £2,652 26.29%
Judgments against incorporated businesses
volume 63 36 -42.86%
total value £414,396 £980,190 136.53%
average* value £6,578 £27,228 313.94%
median value £2,141 £3,476 62.33%
Judgments against unincorporated businesses
volume 22 12 -45.45%
total value £81,642 £25,883 68.30%
average* value £3,711 £2,157 -41.88%
median value £1,648 £1,191 -27.73%
Satisfactions
volume 234 198 -15.38%
total value £1,774,612 £274,350 -84.54%
average* value £7,584 £1,386 -81.73%
median value £658 £748 13.68%

For more information please contact

press@registry-trust.org.uk

+44 207 391 7287

www.registry-trust.org.uk

Notes for editors

Irish Judgments is part of Registry Trust, a non-profit company established in 1985. Registry Trust maintains public records of judgment and decree information for all jurisdictions in the British Isles and Ireland.

Irish Judgments holds a public register of judgments registered at the Four Courts in Dublin.

The figures are based only on judgments registered at the request and cost of creditors at the Four Courts in Dublin and therefore provide only a partial picture of debt in Ireland.

Judgments can be removed from the register if paid in full within one calendar month of the issue date and Irish Judgments is informed, but will otherwise remain registered for six years. If fully paid outside the one calendar month, the defendant can apply to have the judgment marked as ‘satisfied’ to improve their credit rating.

Anyone may search for entries against a named person or business at a stated address or a corporate body in the Republic of Ireland, Northern Ireland, Scotland or England and Wales by visiting Registry Trust’s website www.trustonline.org.uk or by writing to Irish Judgments at Irish Judgments, Ulysses House, Foley Street, Dublin 1.