Registered debt against Scottish businesses remains unchanged

The number of decrees and total amount of debt registered against Scottish businesses was almost unchanged, at 523 compared to 525 in Q3 2020 according to latest figures by the Registry Trust. The total value rose by one quarter, from £2 million to £2.5 million. As a result, the average value rose by 26 percent, from £3,863 to £4,851. The median value also rose, by 27 percent from £1,203 to£1,523.

The number of decrees against incorporated businesses rose slightly, by just over two percent, from 437 to 447. The total value rose by one fifth, from £1.7 million to £2 million. The average value saw a rise of 17 percent, from £3,858 to £4,530, with the median value up by 43 percent from £1,050 to £1,500.

But, decrees against smaller businesses fell by 14 percent, from 88 to 76. However, the total value rose by nearly 50 percent, from £342,036 to £512,047. As a result, the average value saw a large increase of 73 percent, from £3,887 to £6,737. The median value rose by 69 percent from £1,424 to £2,411.

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 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. The Covid economic crisis is far from over for financially vulnerable households.”