Scottish debt decrees increase 23%

New figures from the Registry Trust have revealed that the number of decrees and the value of debt registered in Scotland have seen an increase in Q2 2022 as compared to the same period last year.

The total number of decrees increased from 4,356 in Q2 2021 to 5,351 in Q2 2022, an increase of 23%. The value of debt has also increased year-on-year, from £13.5 million in Q2 2021 to £18.1 million in Q2 2022, an increase of 34%.

There has been a decrease in the number of satisfied judgments year-on-year from 285 to 209, a decrease of 27%.

The number of business judgments in Scotland has dramatically increased by 370%, from 365 in Q2 2021 to 1,719 in Q2 2022.

The value of business judgments also rose by 301% year-on-year, from £1.3 million in Q2 2021 to £5.4 million in Q2 2022. However, if we compare with the previous quarter, there has been a decrease in the value of business debt by 33%, from £8 million in Q1 2022 to £5.4 million in Q2 2022.

The average value of debt against Scottish businesses has decreased by 15% year-on-year.

The total number of judgments against incorporated businesses increased from 312 to 1,584 year-on-year, a drastic increase of 407%. The value of debt against those businesses also rose by 294%, from £1.1 million in Q2 2021 to £4.7 million in Q2 2022. However, the average value of debt fell by 22%, from £3,832.81 in Q2 2021 to £2,975.04 in Q2 2022.

The number of judgments against non-corporate businesses has seen an increase of 154% in this quarter as compared to the same period last year, from 53 to 135. The value of debt against these businesses has increased from £159,634 to £730,649 year-on-year, an increase of 357%. The average value of debt against the non-corporate Scottish businesses have seen an 80% increase in Q2 2022 as compared to the same period last year.

The total number of decrees registered against Scottish consumers has decreased by 9%, from 3,991 in Q2 2021 to 3,632 in Q2 2022. However, the value of consumer debt has seen an increase of 5% year-on-year, from £12.1 million in Q2 2021 to £12.7 million in Q2 2022. The average value of consumer debt rose by 15% year-on-year, from £3,043.89 to £3,502.11.