Credit, Collections & Insolvency News
The number of debt judgments registered against Northern Ireland businesses rose, from 73 to 117 according to new Registry Trust data,
Debt judgments increased by 60 percent over the period. The total value of judgments against Northern Ireland businesses rose by much less, 21 percent, from £457,243 to £554,524. As a result, the average value of business judgments fell by 24 percent, from £6,264 to £4,740. The median value fell by even more, from £2,708 to £1,430, a drop of 47 percent. This suggests creditors were taking out more smaller judgments against businesses.
Registry Trust Chair, Mick McAteer, said: “We saw another large rise in the number and value of judgments against Northern Irish consumers in this quarter compared to the same period last year. At that time, interventions by 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 have begun to rise again. However, while numbers are rising, there is still some way to go before they reach pre-Covid peaks.”
| Q3 2020 | Q3 2021 | Change (compared with 2020) | |
| Judgments against all businesses | |||
| volume | 73 | 117 | 60.3% |
| total value | £457,243 | £554,524 | 21.3% |
| average* value | £6,264 | £4,740 | -24.3% |
| median value | £2,708 | £1,430 | -47.2% |
| Judgments against incorporated businesses | |||
| volume | 51 | 90 | 76.5% |
| total value | £340,082 | £487,125 | 43.2% |
| average* value | £6,668 | £5,413 | -18.8% |
| median value | £2,810 | £1,426 | -49.2% |
| Judgments against unincorporated businesses | |||
| volume | 22 | 27 | 22.7% |
| total value | £117,161 | £67,399 | -42.5% |
| average* value | £5,326 | £2,496 | -53.1% |
| median value | £2,420 | £1,430 | -40.9% |
| Satisfactions | |||
| volume | 74 | 48 | -35.1% |
| total value | £141,178 | £119,638 | -15.25% |
| average* value | £1,908 | £2,492 | 30.6% |
| median value | £836 | £688 | -17.7% |