Credit, collections & insolvency news
The total number and value of debt judgments in Northern Ireland fell to the lowest levels on record during 2016, according to figures released today by Registry Trust. There were 7,144 small claims judgments in 2016, 15 percent fewer than the previous year. The total value also fell 15 percent; the average value remained unchanged at £1,903.
The total number and value of judgments issues by the High Court also fell to historic lows, with only 99 judgments registered worth a total of £9.8m. The average High Court judgment was just shy of £100,000.
The vote to leave the European Union on June 23 does not appear to have had any immediate effect on the ability of Northern Ireland consumers and businesses to stay on top of their debts. Indeed, there were fewer judgments recorded in the second half of 2016 than in any other half-year on record.
“Brexit has without doubt introduced a period of uncertainty which may have a delaying effect on transactions,” said Registry Trust chairman Malcolm Hurlston CBE. “It is excellent news that approaching Brexit consumers and business are on top of their finances and avoiding judgments.”