CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Smaller debts pursued: warning
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Smaller debts pursued: warning PDF Print E-mail
Thursday, 29 October 2015
The average value of a small claim debt judgment in Northern Ireland has fallen to £1,790, the lowest in the third quarter since the financial crisis, according to figures released today (October 29) 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 number of small claim judgments in Q3 has increased by four per cent on the previous year to 2,071. The total value of small claim judgments was £3.7m, the lowest in Q3 since the financial crisis and 14 per cent down on Q3 2014. The average value of a small claim judgment was 18 per cent lower than in the third quarter of 2014.

There were 59 High Court judgments (HCJs) in Q3 2015, 26 per cent down on Q3 2014, and a recent low. The total value decreased by 24 per cent on the previous year to £11m whilst the average value saw a three per cent increase to £188,350.

Commenting on the statistics, Malcolm Hurlston CBE, chairman of Registry Trust said: "The number of judgments rose in the last quarter but that may not mean the economic situation is getting worse. Since the average value of judgments fell over the same period it is more likely that creditors are pursuing for smaller amounts. People with judgments against them would be well advised to pay off quickly if they can. ”

During Q3 2015 Registry Trust received 6,143 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.
 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197