Judgment debts fall in Northern Ireland
The total value of debt judgments in Northern Ireland in the first quarter of the year fell by a fifth to £9.6m, according to figures released today (May 21) by Registry Trust.
Registry Trust is the non profit organisation which collects judgment information from jurisdictions across the British Isles and Ireland. In Northern Ireland it collects information on defaults and small claims judgments, and High Court judgments. Judgment records, business and consumer, are available for the public to search at www.trustonline.org.uk. A judgment represents incontrovertible proof of unmanaged debt.
The year on year fall in the total value of first quarter judgments was driven by a 26 per cent decrease in the value of High Court judgments to £5.8m, continuing the trend of recent years. The value of Small Claims judgments fell by 10 per cent to £3.8m.
There were 46 High Court judgments in Q1 2015, 26 per cent down on Q1 2014, continuing the downward trend. The number of Small Claims judgments decreased by two per cent to 1,884, the number of Q1 judgments has either fallen or remained the same each year since 2010.
The average value of a Small Claims judgment was £2,026. A High Court judgment was £125,599 on average.
Commenting on the statistics, Malcolm Hurlston CBE, chairman of Registry Trust said: “Judgment figures provide a useful commentary on the development of the economy. These indicate prudence from both consumers and businesses.”
During Q1 2015 Registry Trust received 6,191 requests to search the register for Northern Ireland, the bulk of which were made online via www.trustonline.org.uk. Through TrustOnline anybody in Northern Ireland is free to search for judgments and other registered information against businesses and consumers in any jurisdiction in the British Isles and Ireland. “It is a unique benefit for people to be able to check the debt record of any business or person with which they may be transacting. Negative information should at least give pause for thought.” said Mr Hurlston.