Debt judgments against Northern Irish consumers fall 40%

The number of debt judgments against Northern Irish consumers fell by nearly 40 percent in the second half of 2020 compared to the same period last year, from 3,136 to 1,900, according to figures released by Registry Trust.

The value of judgment debt owed by Northern Irish consumers for the half-year fell even more, by just over 50 percent, from £8.5 million to £4.2 million. The average value of consumer judgments also fell from £2,275 to £2,206, a decrease of 19 percent over the same period.

But, the average value rose significantly by 37 percent from £2,573 to £3,251. This suggests creditors are enforcing against fewer but larger debts.

Registry Trust Chairman Mick McAteer said “The latest Registry Trust data shows that Government and regulatory interventions, and forbearance by creditors, in response to the Covd-19 economic crisis are working. But, the respite may be short-lived as the damage to business and household finances will show up later once the jobs and consumer protection measures are unwound”.

Statistics

	Half Year 2019	Half Year 2020	Change (compared with 2019)
Judgments against consumers volume 3,136 1,900 -39.41% total value £8,546,066 £4,191,947 -50.95% Average* value £2,725 £2,206 -19.04% Median value £908 £888 -2.20%