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Debt indicators pointing the right way for Northern Ireland

By CreditMan Friday, July 26, 2013

The value of small claims debt judgments over the first half of the year has fallen by 22.5 percent in Northern Ireland compared with last year, according to the most recent statistics released by Registry Trust.

Registry Trust is the non-profit organisation that collects judgment information from jurisdictions across the British Isles and Ireland.

Judgment records are made available to the public at www.trustonline.org.uk. The presence of a judgment shows the business or individual has failed to make payments and can therefore be used as a simple indicator of creditworthiness.

In the first half of 2013, a total of 4,494 small claims judgments was registered in Northern Ireland, with a total value of £8.5m. Over the same period last year, 4,975 judgments with a total value of £11m were recorded.

Registry Trust now collects data for High Court judgments (HCJs) in Northern Ireland in addition to small claims. In the first half of 2013, 299 HCJs were collected with a total value of £35.7m. This is £6.6m or 22.8 percent more than the total of £29m recorded during the first six months of 2012 when 387 HCJs were issued.

A record number of searches was carried out on judgment histories during the first half of the year. Trustonline.org.uk received 115,881 search requests across all jurisdictions.

Announcing the statistics, Registry Trust chairman, Malcolm Hurlston CBE, said: “This is the most marked change we have seen since the first half of 2009 when there was a dramatic rise in judgments.

“Added to recent positive unemployment figures and optimism about the economy, the indicators seem to be pointing in the right direction for Northern Ireland.”