Credit, Collections & Insolvency News
The number of debt judgments in Jersey fell in 2018 compared to 2017, according to figures released today (February 6) by Registry Trust. However the total value of judgments increased during the same year.
There were 1,492 judgments registered in Jersey during 2018, 14 percent fewer than in 2017. By contrast, 3,489 judgments were registered in 2010.
The number of debt judgments against consumers in 2018 decreased 12 percent to 1,318 and there were 174 business judgments, 22 fewer than the year before.
During 2018, the average value of judgments increased 41 percent to £5,370. The total value of all judgments rose 22 percent from £6.6 million to £8 million.
The average value of consumer judgments in 2018 was £4,456 a rise of 52 percent on 2017, though the median value paints a different picture falling by 14 percent to £371 in 2018.
The median business judgment’s value fell just two percent to £2,166, though the average 2018 judgment value rose 27 percent compared to the 2017 average, to £12,295.
During 2018, 5.4 percent of Jersey’s judgments were satisfied. This contrasts with 15.3 percent in England and Wales.
Registry Trust deputy chairman, Mick McAteer said “The number of judgments in Jersey continued to fall in 2018. The 2018 number is now well under half the figure we saw in 2010 as we came out of the great financial crisis. But, the total and average value rose suggesting there are still some very large judgments working through the system.”
Statistics
| 2017 |
2018 |
Change (compared with 2017) | |
| All judgments | |||
| volume | 1724 | 1492 | -14% |
| total value | £6.6m | £8.0m | 22% |
| average value* | £3,815 | £5,370 | 41% |
| median | £512 | £471 | -8% |
| Consumer judgments | |||
| volume | 1500 | 1318 | -12% |
| total value | £4.4m | £5.9m | 33% |
| average value* | £2,940 | £4,456 | 52% |
| median | £429 | £371 | -14% |
| Business judgments | |||
| volume | 224 | 174 | -22% |
| total value | £2.2m | £2.1m | -1% |
| average value* | £9,674 | £12,295 | 27% |
| median | £2,216 | £2,166 | -2% |
* Average value refers to the ‘mean’. The mean average tends to be higher than the median, as it is more distorted by outlying, high value cases.
