Registered Scottish consumer debt sees large rise

The number of decrees and total amount of debt registered against Scottish consumers saw large rises in the second quarter of 2021 (Q1 2021) compared to the same period last year, according to figures released by Registry Trust.

The number rose from 1,419 to 3,991 in Q2 2021, a rise of 181 percent from Q2 2020. The total value saw a similar rise, an increase of 170 percent from £4.5 million to £12.1 million. The average value fell slightly, down four percent from £3,175 to £3,044. The median value rose by 17 percent, from £1,537 to £1,800.

Trust Chair Mick McAteer said “We saw a large rise in the number and value of decrees recorded against Scottish consumers in this quarter compared to the same period last year. At that time, interventions by the government and regulators, and forbearance by creditors, in response to the Covid crisis had kept judgment numbers at historically low levels. But, as these measures were wound down, numbers began to rise again. The Covid economic crisis is far from over for financially vulnerable households.”

	Q2 2020	Q2 2021	Year on year change
Decrees against consumers volume 1,419 3,991 181.25% total value £4,505,132 £12,148,150 169.65% Average* value £3,175 £3,044 -4.12% Median value £1,537 £1,800 17.11%

*Average value refers to the ‘mean’. In some cases, the mean average can be higher or lower than the median value, as it is can be distorted by outlying high or low value cases.