REGISTERED DEBT OWED BY SCOTTISH CONSUMERS SEE LARGE FALLS IN FIRST QUARTER 2021 BUT NUMBERS ARE RISING SHARPLY AGAIN
The number of decrees registered against Scottish consumers during the first quarter of 2021 (Q1 2021) fell by over 25 percent, from 5,430 to 4,052, compared to the same period last year, according to figures released today (16.04.2021) by Registry Trust.
The total value fell from £14.2 million to just under £11 million compared to the same period last year. The average value at £2,710 saw a slight rise of three percent from the £2,629 in Q1 2020. The median value rose sharply by 12 percent, from £1,427 to £1,602.
However, although numbers are down over the year, consumer decrees registered are rising sharply again, up 11 percent from Q4 2020 and 186 percent from the lows seen in Q2 2020.
The number of decrees against Scottish businesses also fell, by nearly 40 percent, from 722 to 434. The total value fell by 27 percent from just under £3 million to £2.2 million. The average value rose by 22 percent from £4,151 to £5,047. The median value increased by even more, up nearly 60 percent, from £1,407 to £2,247.
The number of decrees against incorporated businesses fell by 43 percent, from 617 to 353. The total value fell by 33 percent, from £2.6 million to £1.7 million. The average value rose by just over 17 percent from £4,168 to £4,883.
Decrees against smaller businesses also declined, from 105 to 81, a fall of 23 percent. However, the total value rose by nearly 10 percent from £425,101 to £466,759 with the average value increasing by 42 percent, from £4,049 to £5,762.
Trust Chair, Mick McAteer, said: “Covid-19 interventions by government and regulators, and forbearance by creditors, have helped Scottish consumers and businesses. But, numbers of decrees against Scottish consumers are rising sharply again suggesting the damage Covid has caused to household finances has started to show up.”
|Q1 2020||Q1 2021||Change (compared with 2020)|
|Decrees against consumers|
|Decrees against all businesses|
|Decrees against incorporated businesses|
|Decrees against unincorporated businesses|