DEBT JUDGMENTS AGAINST NORTHERN IRELAND CONSUMERS FALL BY MORE THAN HALF IN 2020
The number of debt judgments registered against Northern Ireland consumers in 2020 was 3,207, a fall of 52 percent compared to the 6,649 registered in 2019, according to figures released today (08.01.2021) by Registry Trust.
The total value of consumer judgment debt owed in 2020 also fell by just over half (54%) compared to last year, from £17.4 million to just under £8 million. The average value of consumer judgments fell slightly by four percent, from £2,612 to £2,485. The median value rose by over 18 percent from £862 to £1,021.
The period also saw the number of judgments against businesses fall by 59 percent, from 1,308 to 539. The total value of judgments against businesses also fell, by 29 percent from £3,203,652 to £2,279,151. The average value of business judgments rose steeply, from £2,449 to £4,228, up 73 percent. The story of 2020 is one of many fewer, but larger judgments.
But, following huge falls in the first half of the year, numbers are rising again. The total number of judgments rose by 16 percent in Q4 2020 compared to Q3 2020.
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 have protected Northern Irish consumers. But, the signs are that the respite may be short lived as the numbers of debt judgments have risen sharply in the second half of the year.”
|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|