Scottish consumer decrees and debts fall

The number of decrees and total amount of debt registered against Scottish consumers fell sharply in the fourth quarter of 2020 compared to the same period last year, according to figures released by Registry Trust.

The number of decrees fell by 27 percent from 4,984 to 3,654. The total value fell from £12.9 million to £10.8 million, a fall of 16 percent compared to the same period last year. The average value of decrees rose by 15 percent from £2,582 to £2,961, with the median value rising nine percent from £1,453 to £1,580.

Trust chairman Mick McAteer said “Interventions by government and regulators, and forbearance by creditors, have helped Scottish consumers and businesses during the Covid-19 crisis. But, as feared, numbers are now rising sharply again as the economic effects of the pandemic work their way through the system.”