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THE NUMBER OF DEBT JUDGMENTS ISSUED AGAINST CONSUMERS IN THE ISLE OF MAN RISES BY OVER TWENTY PERCENT IN Q4 2020

The number of judgments issued in the Isle of Man Courts of Justice against consumers rose sharply in the fourth quarter of 2020, compared to the same period last year, according to data published today (08.01.2021) by Registry Trust.

The total number of judgments issued against consumers in Q4 2020 was 88, a rise of just over 20 percent compared to the 73 in Q4 2019, although the value of those judgments fell by 49 percent from £1.1 million to £583,597. The average value fell by 57 percent from £15,604 to £6,632. However, the median rose by 18 percent, from £633 to £747.

Judgments against Isle of Man businesses fell. The numbers of judgments against businesses in Q4 2020 was 21, a fall of 16 percent from the 25 issued in Q42019.

The value of business judgments registered in quarter was £219,260, a fall of 13 percent from the £251,757 in the same period of 2019. The average value of business judgments rose slightly, by just under four percent, from £10,070 to £10,441, with the median rising by just under 10 percent from £2,931 to £3,222.

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. But, the latest data would suggest that consumer judgments are on the rise again after that period of respite. However, 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 73 88 20.55%
total value £1,139,089 £583,597 -48.77%
average* value £15,604 £6,632 -57.50%
median value £633 £747 18.01%
Judgments against all businesses
volume 25 21 -16.00%
total value £251,757 £219,260 -12.91%
average* value £10,070 £10,441 3.68%
median value £2,931 £3,222 9.93%
Judgments against incorporated businesses
volume 23 16 -30.43%
total value £247,261 £207,195 -16.20%
average* value £10,750 £12,950 20.46%
median value £2,931 £5,362 82.94%
Judgments against unincorporated businesses
volume 2 5 150.00%
total value £4,496 £12,065 168.35%
average* value £2,248 £2,413 7.34%
median value £2,248 £762 -66.10%
Satisfactions
volume 47 54 14.89%
total value £44,807 £68,445 52.76%
average* value £953 £1,268 32.95%
median value £578 £751 29.93%

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.