REGISTERED DEBT OWED BY SCOTTISH CONSUMERS FALLS SHARPLY IN FIRST HALF OF 2020
The total amount of debt registered against Scottish consumers in the first half of 2020 fell by 20 percent, from nearly £24 million to just under £19 million, according to figures released by Registry Trust. The number of decrees fell by over 26 percent from 9,310 to 6,849. The average value rose by over eight percent from £2,532 to £2,742 meaning fewer but larger decrees were registered.
The number of decrees against Scottish businesses also fell by 13 percent, from 1,140 to 990. The total value of decrees against businesses saw a large fall of 47 percent, from over £9 million to just under £5 million. The average value also fell by nearly 39 percent, from £8,231 to £5,045.
Decrees against incorporated businesses fell by just over one percent from 850 to 839. But, the total value fell by more than half (55 percent) from over £8 million to under £4 million. The average value also fell by 55 percent from £9,829 to £4,463.
Decrees against smaller businesses also fell, by nearly a half from 290 to 151, over the period. But, the total value of decrees rose by more than 20 percent from just over £1 million to nearly £1.3 million. The average value of decrees against smaller business more than doubled from £3,549 to £8,288 as a number of high value cases distorted the average value.
Trust chairman Mick McAteer said: “Covid19 interventions by government and regulators, and forbearance by creditors, have helped Scottish consumers and businesses. But, once these measures are unwound, the damage to household and business finances will start to show up.”
|Half Year 2019||Half Year 2020||Change (compared with 2019)|
|Decrees against consumers|
|Decrees against all businesses|
|Decrees against incorporated businesses|
|Decrees against unincorporated businesses|