There was a slight fall in the number of debt judgments recorded in the Ireland during the first half of the year, according to figures released today by Registry Trust. There were 1,117 judgments registered against consumers in the first six months of 2017, only one percent higher than the same period last year. But the average value of a consumer judgment fell by 24 percent to €95,779, bringing the total value of all judgments against consumers down by 23 percent to €107m.
The number of business judgments fell by 30 percent to 382 during the first two quarters of the year, the lowest on record. The total value dropped sharply by 71 percent to €8.5m, another record low. The average business judgment fell 59 percent to €22,355.
While the total number of judgments decreased for both incorporated and the generally smaller non-incorporated businesses, the latter fell by almost half against the former’s 11 percent decrease. Meanwhile, the total value of corporate judgments increased by just over half as it fell by 97 percent for non-corporates. The average corporate judgment was worth €30,326, whereas a non-corporate judgment was €5,571 on average.
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 unmanaged debt judgments in the country. By comparison, in the much smaller economy of Northern Ireland, where judgments from all courts are registered, there were 1,970 judgments in Q1 2017.
Registry Trust Chairman Malcolm Hurlston said “The message of the stats is mixed but generally favourable, We may be seeing a trend for people to be taken to the courts for lower value judgments. This is something to watch”
Judgments against consumers Q1 and Q2 2017 (compared with Q1 and Q2 2016)
- Total: 1,117 (up one percent)
- Value: €107m (down 23 percent)
- Average: €95,779 (down 24 percent)
Judgments against businesses Q1 and Q2 2017
- Total: 382 (down 30 percent)
- Value: €8.5m (down 71 percent)
- Average: €22,355 (down 59 percent)