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|
|Judgments against all businesses|
|Judgments against incorporated businesses|
|Judgments against unincorporated businesses|