Irish consumer debt judgements decrease

The total number of judgments in 2018 against Irish consumers is at a record low, with consumer judgments down eight percent. However, the value of consumer judgments rose by 22 percent in the same year.

There were 1,985 judgments registered against consumers in 2018, eight percent fewer than the previous year and a record low. However, the total value of consumer judgments rose 22 percent to €258.6million and the average value of consumer judgments leapt 32 percent to €130,271. The total value and average value of consumer judgments are back up to 2016 levels, following the record low in 2017.

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 8,075 judgments in 2018.

Malcolm Hurlston Registrar at theRisgistry Trust said “The unknown number of unregistered judgments is a matter of severe concern. Judgments from the Four Courts are in all likelihood the most important since lenders and others have chosen to have them registered at their own expense, but there is valuable public information in other courts too.“

Statistics

• Judgments against consumers in 2018 (compared with 2017)

o    Total: 1,985 (down eight percent) [lowest annual figure on record]

o    Total value: €258.6m (up 22 percent)

o    Average value: €130,271 (up 32 percent)

o    Median: €12,252 (down eight percent)