THE VALUE OF DEBT JUDGMENTS REGISTERED AGAINST CONSUMERS IN JERSEY FALLS BY NEARLY SIXTY PERCENT IN THE FIRST HALF OF 2020

The number and value of judgments issued in the Jersey Petty and Royal Courts against consumers fell sharply in the second half of 2020, according to data published by Registry Trust. The total number of judgments issued against consumers fell from 678 last year to 465, a fall of 31 percent compared to the same period in 2019.

The total value of judgments issued against consumers fell by nearly 60 percent from £2.1 million to just £845,127. The average value fell from £3,102 to £1,817, a drop of over 41 percent.

Judgments against Jersey businesses saw even sharper falls. The numbers of judgments against businesses in the first half of 2020 fell to 27, a fall of nearly 70 percent from the 88 issued in the same period of 2019.

The value of business judgments registered in the half year was just over £100,000, a huge fall of 92 percent compared to the £1.3 million in the same period 2019. The average value of business judgments fell by nearly three quarters, from £14,281 to £3,720.

The sharp falls seen in the first half of 2020 are almost entirely down to the fact that judgment activity against consumers and businesses virtually ceased in the second quarter of 2020.

Registry Trust chairman, Mick McAteer said: “The latest data suggest that consumers and businesses are doing well despite the economic and financial shocks created by the Covid19 pandemic. But, it is important to note that the full economic of Covid19 has not shown up in the data. The protections provided by policy and regulatory interventions, and creditor forbearance, meant judgment activity virtually ceased in the second quarter of the year. That will change as protections are unwound.”