Scottish consumer debt decrees fall by over 25%

The number of decrees registered against Scottish consumers during the first Quarter of 2021  fell by over 25 percent, from 5,430 to 4,052, compared to the same period last year, according to figures released by Registry Trust.

The total value fell from £14.2 million to just under £11 million compared to the same period last year. The average value at £2,710 saw a slight rise of three percent from the £2,629 in Q1 2020. The median value rose sharply by 12 percent, from £1,427 to £1,602.

However, although numbers are down over the year, consumer decrees registered are rising sharply again, up 11 percent from Q4 2020 and 186 percent from the lows seen in Q2 2020.

Trust Chair, Mick McAteer, said “Covid-19 interventions by government and regulators, and forbearance by creditors, have helped Scottish consumers and businesses. But, numbers of decrees against Scottish consumers are rising sharply again suggesting the damage Covid has caused to household finances has started to show up.”