Scottish business "set fair" as decrees drop
The value of debt decrees faced by Scottish businesses in the first half of 2013 fell by 37 percent compared with the same period last year, according to Registry Trust's most recent statistics.
Registry Trust is the non-profit organisation which collects and makes available judgment information in Scotland and other jurisdictions in the British Isles. In Scotland it collects information on small claims, summary decrees and ordinary causes.
The information is made publicly available on the website trustonline.org.uk. A judgment record indicates that the person or business has failed to repay a debt in the past and can therefore be used as an indicator in creditworthiness.
From January to June last year, decrees to a total value of £17.7m were registered against businesses in Scotland compared to £11.2m this year.
The value of decrees faced by consumers in Scotland in the first six months of the year also fell, by 9 percent, from £32.4m in 2012 to £29.5m this year.
The corresponding number of decrees also fell for both businesses and consumers. Businesses faced 2,689 decrees in the first half of last year compared to 2,616 this year, while consumers faced 11,824 decrees last year compared to 10,573 this year.
A record number of searches were performed on decree histories during the first six months of the year. Trustonline.org.uk received 115,881 search requests across all jurisdictions.
Malcolm Hurlston CBE, Registry Trust's chairman, said: "The first six months of 2012 saw a spike in the value of business decrees in Scotland which I'm pleased now looks like a temporary blip.
"Added to the recent impressive growth in the economy, Scottish business looks set fair."
If you have any questions or comments on the above then please do contact me using the details below. As always a selection of articles relating to debt recovery and credit control can be found at www.debtscotland.com/news.cfm
Yuill + Kyle
Debt recovery + Credit control Lawyers, Scotland
T: 0141 331 2332
Debt Recovery Ignited!
Yuill + Kyle is the trading name of Yuill + Kyle Limited, registration number: SC352604. Registered Office: 79 West Regent Street, Glasgow, G2 2AR