The number of consumer debt judgments registered in the Republic of Ireland fell to the lowest total since modern records began in 2008, during the first half of the year, according to figures released today by Registry Trust.
Nine hundred and thirty judgments were issued against consumers during Q1 and Q2 2018, 17 percent fewer than during the same period of 2017 and the lowest total on record for the first half of the year. By contrast, during Q1 and Q2 2011 2,535 consumer judgments were registered.
Despite the fall in numbers, the average consumer judgment sharply increased in value by 80 percent which took the total value of consumer judgments to €160.4m. The scale of this rise was partially caused by several abnormally large judgments, including one judgment worth €30m. In contrast to the massive year-on-year increase in the average judgment’s value, the median judgment (excluding outliers) rose by twenty percent to €14,654.
In Q1 and Q2 2018, 278 business judgments were issued, 27 percent fewer than during the same period of the previous year.
Malcolm Hurlston as Registrar commented: “The significance of these judgments is that creditors have gone to the trouble and expense of registering them at the Four Courts for further visibility and action. However, there is much to be learned from other judgments in smaller courts which are public but not registered. Irish businesses and consumers can benefit from the wider information available in Northern Ireland and in Great Britain.”
Judgments against consumers Q1 and Q2 2018 (compared with Q1 and Q2 2017)
- Total: 930 (down 17 percent)
- Total value: €160.4m (up 50 percent)
- Average value: €172,492 (up 80 percent)
- Median: €14,654 (up 20 percent)