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BOOST FOR SCOTTISH BUSINESS AS DECREES PLUMMET

According to figures released today (17th July 2019) by Registry Trust, the number of decrees against Scottish businesses dropped by 28 percent in the first six months of 2019 (compared to HY1 2018 figures) - totalling 1,140, the lowest of any first half-year on record.

The total value of decrees against businesses in the first half of the year rose 27 percent to £9.4million. The average value of a business decree leapt 75 percent to £8,231, while the median, at £2,127, was up by 26 percent compared to the same period the previous year.

Though the total number of decrees against incorporated businesses dropped by 29 percent from the previous year’s figures, to 850, the total value of decrees against companies rose by 69 percent to £8.4million. The average value of a decree in HY1 2019 jumped 138 percent to £9,829 and the median increased by 45 percent to £2,235.

The total number of decrees against the generally smaller unincorporated businesses fell 23 percent on HY1 2018 figures, to 290 - a record first half-year low. The total value also dropped to a record first half-year low of £1million, down 58 percent compared to the same period of 2018. The average value decreased by 46 percent to £3,549, while the median value fell seven percent to £1,951.

During the first half of 2019, 9,310 debt decrees were registered against consumers, 29 percent lower than HY1 2018. There was a 33 percent decrease in the combined value of consumer decrees to £23.6million. The average value of all consumer decrees fell to a record first half-year low of £2,532, five percent lower than in the same period of 2018, and the median consumer decree increased by four percent to £1,325.

The number of small claims against consumers fell by 29 percent in HY1 2019 to 8,498, with the total value down to £13.1million, a 28 percent drop on HY1 2018’s record high figure of £18.1million. The average value of consumer small claims increased one percent to £1,537, and the median value rose by five percent to £1,213.

Ordinary cause decrees against consumers in the first six months of 2019 dropped by 33 percent to 812, compared to the same period the previous year. The total value fell by 39 percent to an all time first half-year low of £10.5million. The average value fell eight percent to £12,954, while the median value at £8,809 rose eight percent from 2018 figures.

Only 4.34 percent of decrees were marked as satisfied during the first half of 2019. This compared to the 13.88 percent of satisfied debt judgments in England and Wales, where satisfaction rates are far higher owing to legal differences.

“Lenders are likely to take notice when a decree is satisfied” said Scotland chairman Malcolm Hurlston CBE. “It would be helpful if advice agencies in Scotland helped clients to report it to us.” He continued “The decree stats for both businesses and consumers are positive over this half year and give hope for a strengthening economy.”

Registry Trust is the non-profit organisation which collects decree and judgment information from jurisdictions throughout the British Isles and Ireland. In Scotland it collects information on small claims, summary, ordinary cause and simple procedure sheriff's court decrees. A decree is incontrovertible proof that debt has not been managed.

In the first quarter of 2019 Registry Trust received 20,311 requests to search the register for Scotland online at www.trustonline.org.uk. TrustOnline allows anyone to search for judgments and similar information registered against consumers and businesses in any jurisdiction throughout the British Isles and Ireland.

Q1+Q2
2018
Q1+Q2 2019 Change (compared with Q1+Q2 2018)
Decrees against
all businesses
volume 1,573 1,140
[record low]
-28%
total value £7.4m £9.4m +27%
Average* value £4,713 £8,231 +75%
median £1,687 £2,127 +26%
Decrees against
incorporated businesses
volume 1,197 850 -29%
total value £4.9m £8.4m +69%
Average* value £4,123 £9,829 +138%
median £1,545 £2,235 +45%
Decrees against
unincorporated businesses
volume 367 290
[record low]
-23%
total value £2.5m £1.0m
[record low]
-58%
Average* value £6,589 £3,549 -46%
median £2,109 £1,951 -7%

For more information please contact

press@registry-trust.org.uk

0207 391 7287

www.registry-trust.org.uk

Notes for editors

Registry Trust is a non-profit company established in 1985 to become the Registrar of County Court Judgments. Registry Trust holds a public register of Scottish decrees. By agreement with the Scottish Courts Administration Service it collects details of undefended money decrees entered in the small claims, summary and ordinary cause sheriffs’ courts in Scotland.

Decrees are removed from the register if paid in full within one calendar month of the issue date and Registry Trust is informed, but will otherwise remain registered for six years. If fully paid outside the one calendar month, defendants can apply to Registry Trust to have the record 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 British Isles and the Republic of Ireland by visiting Registry Trust’s website www.trustonline.org.uk or by writing to Registry Trust, 153–157 Cleveland Street, London W1T 6QW.

To view the full set of statistics, visit www.registry-trust.org.uk/press.