The number of debt decrees registered against Scottish businesses rose by more than a third during the third quarter of 2018, according to figures released today by Registry Trust. There were 754 decrees issued against all businesses in Scotland during Q3 2018, 34 percent more than during the same period the previous year.
A 44 percent rise in the number of decrees issued against companies accounted for most of this increase. In contrast the number of decrees registered against unincorporated businesses, which are generally smaller, increased by just two percent.
The total value of all business decrees rose by 21 percent to £2,874,044 over the year. Within this, the total value of company decrees, rose 17 percent to £2,116,734 and the average company decree’s value fell by 19 percent to £3,398, the lowest corporate average for a third quarter, despite rising in number. The total value of non-corporate decrees increased 31 percent to £757,310 with the average at £5,781, a 29 percent increase on Q3 2017.
Registry Trust chairman Malcolm Hurlston CBE said: “Both consumers and businesses need to be more alert to having decrees marked satisfied when they have been paid. It gives an immediate boost to credit records and several thousand are currently missing out.”
Registry Trust collects decree and judgment information from jurisdictions across the British Isles and Ireland. In Scotland it collects information on small claims, summary, ordinary cause and simple procedure sheriff’s court decrees. A decree is incontrovertible proof that debt has not been managed.
- Q3 2018 Decrees against all businesses (compared with Q3 2017)
○ Total: 754 (up 34 percent)
○ Total value: £2.9m (up 21 percent)
○ Average value: £3812 (down ten percent)
○ Median: £1434 (down three percent)
- Q3 2018 Decrees against incorporated businesses
○ Total: 623 (up 44 percent)
○ Total value: £2.1m (up 17 percent)
○ Average value: £3,398 (down 19 percent)
○ Median: £1332 (down six percent)
- Q3 2018 Decrees against unincorporated businesses
○ Total: 131 (up two percent)
○ Total value: £757,310 (up 31 percent)
○ Average value: £5,781 (up 29 percent)
○ Median: £1,826 (up 35 percent)