DEBT JUDGMENTS AGAINST NORTHERN IRELAND CONSUMERS FALL BY NEARLY 40 PERCENT IN FIRST HALF OF 2020
The number of debt judgments against Northern Ireland consumers fell by nearly 40 percent in the second half of 2020 compared to same period last year, from 3,136 to 1,900, according to figures released today by Registry Trust.
The value of judgment debt owed by Northern Irish consumers for the half year fell even more, by just over 50 percent, from £8.5 million to £4.2 million. The average value of consumer judgments also fell from £2,275 to £2,206, a decrease of 19 percent over the same period.
The period also saw a large fall in the number and value of judgments against businesses in Northern Ireland from 615 to 353, a fall of nearly 43 percent. The total value of judgments against businesses fell from £1.6 million to £1.2 million, a fall of 21 percent compared to the same period last year.
But, the average value rose significantly by 37 percent from £2,573 to £3,251. This suggests creditors are enforcing against fewer but larger debts.
Registry Trust chairman Mick McAteer said: “The latest Registry Trust data shows that Government and regulatory interventions, and forbearance by creditors, in response to the Covd-19 economic crisis are working. But, the respite may be short lived as the damage to business and household finances will show up later once the jobs and consumer protection measures are unwound”.
|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|