Irish debt judgments fall

New figures from the Registry Trust have revealed that the number of judgments registered in Republic of Ireland decreased in Q2 2022 as compared to the same period last year. However, the value of debt has seen an increase year-on-year.

The total number of judgments fell from 431 in Q2 2021 to 321 in Q2 2022, a decrease of 26%. But, the value of debt has increased year-on-year, from €31.7 million in Q2 2021 to €46.8 million in Q2 2022, an increase of 48%. In terms of the number of satisfied judgments, there has been a slight decrease of 2.8% year-on-year, from 35 to 34.

The number of business judgments registered in Republic of Ireland has decreased by 11%, from 124 in Q2 2021 to 110 in Q2 2022.

However, the value of business debt has seen an increase of 182% as compared to the same period last year, from €1.4 million to €3.95 million. But, if we compare against the previous quarter, there has been a decrease in the value of business debt by 20%, from €4.9 million in Q1 2022 to €3.95 in Q2 2022.

The average value of business debt has increased by 218% year-on-year, from €11,297 to €35,917.

The total number of judgments against incorporated businesses has decreased by 17% year-on-year, from 107 to 89. The value of debt against those businesses has increased by 139%, from €1.15 million in Q2 2021 to €2.75 million in Q2 2022. The average value of debt also rose drastically by 187% year-on-year, from €10,764 to €30,884.

The number of judgments against non-corporate businesses has seen an increase of 24% in this quarter as compared to the same period last year, from 17 to 21. The value of debt against these businesses has increased from €249,076 to €1.20 million year-on-year, an increase of 382%. The average value of debt against the non-corporate businesses have seen an 291% increase in Q2 2022 as compared to the same period last year.

Separately the total number of judgments registered against consumers has decreased by 31%, from 307 in Q2 2021 to 211 in Q2 2022. However, the value of consumer debt has seen an increase of 41.5% year-on-year, from €30.3 million in Q2 2021 to €42.9 million in Q2 2022. The average value of consumer debt rose by 105% year-on-year, from €98,780 to €203,038.