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JUDGMENTS AGAINST IRISH CONSUMERS SEE LARGE RISES IN Q3 2021 COMPARED TO SAME PERIOD LAST YEAR

The number and total value of judgments registered against Irish consumers saw large rises in Q3 2021 compared to the same quarter last year, figures released today by registrar Irish Judgments show.

The number of judgments registered against Irish consumers in Q3 2021 was 233, an increase of 85 percent on the 126 seen in the same quarter last year. Although numbers are volatile and are down on the 307 registered in the previous quarter of this year.

The total value of registered debt owed by consumers in Q3 2021 was €15.8 million, three and a half times the €4.6 million seen in Q3 2020. But, care must be taken with large percentage rises like this as the number and value of judgments in Q3 2020 were artificially low due to interventions designed to protect households from the financial effects of Covid.

The average value of consumer judgments registered was also much higher at €67,675, an increase of 84 percent on the €36,849 seen in the same quarter last year. But, the median value fell again, falling 14 percent from €10,314 in Q3 2021 to €8,8671 in Q3 2020. This suggests a pattern of more, smaller judgments registered with a number of very large judgments pushing up the overall average.

Judgments against Irish businesses also rose significantly. Numbers of judgments registered were up by three quarters, from 78 in Q3 2020 to 137 in Q3 2021. The total value owed in Q3 2021 was €3.7 million, four times the €907,346 in Q3 2020. The average value of business judgments was up by 130 percent, from €11,633 to €26,740. The median value also rose from €5,987 to €7,532, an increase of just over one quarter.

Mick McAteer, as Registrar, commented: “Government and regulatory interventions, and creditor forbearance, were clearly protecting Irish consumers and businesses from the full financial effects of Covid last year. Care should be taken in interpreting the very large percentage rises in judgments reported now, as numbers are volatile. But, overall, the trend in judgment numbers would now seem to be upwards, creating concerns that the Covid financial crisis is far from over for vulnerable consumers and businesses.”

- Ends –

Q3 2020 Q3 2021 Change (compared with 2020)
Judgments against consumers
volume 126 233 84.9%
total value €4,642,980 €15,768,245 239.6%
average* value €36,849 €67,675 83.6%
median value €10,314 €8,867 -14.0%
Judgments against all businesses
volume 78 137 75.6%
total value €907,346 €3,663,321 303.7%
average* value €11,633 €26,740 129.8%
median value €5,987 €7,532 25.8%
Judgments against incorporated businesses
volume 61 110 80.3%
total value €735,521 €1,673,241 127.5%
average* value €12,085 €15,211 26.2%
median value €5,980 €7,798 30.4%
Judgments against unincorporated businesses
volume 17 27 58.8%
total value €171,825 €1,990,080 1058.2%
average* value €10,107 €73,707 629.2%
median value €8,733 €6,716 -23.1%
Satisfactions
volume 24 43 79.2%
total value €12,979,297 €16,599,209 27.8%
average* value €540,804 €386,028 -28.6%
median value €35,178 €6,044 -82.8%

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.