The number of debt decrees registered against Scottish companies sharply rose during the first quarter of 2018, according to latest figures released by Registry Trust.
There were 750 decrees issued against all businesses in Scotland during Q1 2018, four percent more than during the same period of the previous year. A massive 39 percent rise in the number of decrees issued against companies accounted for this increase; the number of decrees registered against the generally smaller, unincorporated businesses sharply decreased by 42 percent.
The rise in the number of decrees issued, coupled with a marginal one percent increase in average value caused the total value of business decrees to increase five percent.
Trust chairman Malcolm Hurlston CBE advised people who had paid back: “If you have satisfied a decree, tell Registry Trust and we shall let credit reference agencies know. Then you are likely to find borrowing easier and cheaper. You need to tell us, it doesn’t happen automatically. Fewer than a quarter of the people in Scotland who pay back are getting the recognition they deserve.”
● Q1 2018 Decrees against all businesses (compared with Q1 2017)
○ Total: 750 (up four percent)
○ Total value: £3,225,839 (up five percent)
○ Average value: £4,301 (up one percent)
○ Median: £1,548 (up one percent)
● Q1 2018 Decrees against incorporated businesses
○ Total: 566 (up 39 percent)
○ Total value: £1,907,153 (down seven percent)
○ Average value: £3,370 (down 33 percent)
○ Median: £1,500 (down nine percent)
● Q1 2018 Decrees against unincorporated businesses
○ Total: 184 (down 42 percent)
○ Total value: £1,318,686 (up 28 percent)
○ Average value: £7,167 (up 119 percent)
○ Median: £1,925 (up 46 percent)