Consumer debt judgements top €100m in Ireland

The total value of consumer debt judgments registered in the Republic of Ireland topped €100m in Quarter 1 of 2018, for the first time during a single quarter since Q3 2015, according to figures released today by Registry Trust.

Four hundred and seventy-one judgments were issued against consumers during the first quarter of the year, 12 percent fewer than in Q1 2017. Despite the fall in numbers, the average consumer judgment sharply increased in value by 171 percent which took the total value of consumer judgments to just over €100m.

The scale of this rise was 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 30 percent to just over €15,000.

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.”

Statistics

• Judgments against consumers Q1 2018 (compared with Q1 2017)
  • Total: 471 (down 12 percent)
  • Total value: €100.3m (up 139 percent)
  • Average value: €212,874 (up 171 percent)
  • Median: €15,336 (30 percent)