Judgments against Irish consumers see large rises

The number and total value of judgments registered against Irish consumers saw large rises in Q3 2021 compared to the same quarter last year, figures released by registrar Irish Judgments show.

The number of judgments registered against Irish consumers in Q3 2021 was 233, an increase of 85 percent on the 126 seen in the same quarter last year. Although numbers are volatile and are down on the 307 registered in the previous quarter of this year.

The total value of registered debt owed by consumers in Q3 2021 was €15.8 million, three and a half times the €4.6 million seen in Q3 2020. But, care must be taken with large percentage rises like this as the number and value of judgments in Q3 2020 were artificially low due to interventions designed to protect households from the financial effects of Covid.

The average value of consumer judgments registered was also much higher at €67,675, an increase of 84 percent on the €36,849 seen in the same quarter last year. But, the median value fell again, falling 14 percent from €10,314 in Q3 2021 to €8,8671 in Q3 2020. This suggests a pattern of more, smaller judgments registered with a number of very large judgments pushing up the overall average.

Mick McAteer, as Registrar, said “Government and regulatory interventions, and creditor forbearance, were clearly protecting Irish consumers and businesses from the full financial effects of Covid last year. Care should be taken in interpreting the very large percentage rises in judgments reported now, as numbers are volatile. But, overall, the trend in judgment numbers would now seem to be upwards, creating concerns that the Covid financial crisis is far from over for vulnerable consumers and businesses.”