CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Sharp fall in judgments against businesses
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Sharp fall in judgments against businesses PDF Print E-mail
Tuesday, 03 May 2016
The number and total value of county court judgments (CCJs) issued against businesses in England and Wales fell sharply during the first quarter of 2016 to its lowest level since before the financial crisis, according to figures released today by Registry Trust.  

Registry Trust is the non-profit organisation which collects judgment information from jurisdictions across the British Isles and Ireland. In England and Wales, it operates the Register of Judgments, Orders and Fines on behalf of the Ministry of Justice. A judgment is incontrovertible proof of unmanaged debt.

There were 21,860 CCJs recorded against business in England and Wales during the first three months of 2016, a 17 percent fall on the same period the previous year and the lowest first quarter since the financial crisis high of 71,867 judgments in Q1 2009.

Similarly, the total value of CCJs against businesses in England and Wales fell 11 percent from £87m in Q1 2015 to £78m in Q1 2016, the lowest Q1 result since the crash.

But the average value of a business CCJ in the first quarter of the year increased six percent to £3,554.

However, generally smaller businesses which were not incorporated, fared much worse with numbers rising rather than falling.

The number of high court judgments (HCJs) against businesses fell 47 percent to just 16, the lowest since before the financial crisis. The total value fell slightly by two percent to £16.5m, while the average value of a HCJ rose 85 percent to just over £1m.

“There is a stark difference this quarter between the performance of companies and smaller enterprises,” said Registry Trust chairman Malcolm Hurlston CBE. “It will be easier to interpret this information when the VAT Register information is made available.”

In Q1 2016 Registry Trust received 38,583 requests to search the register for England and Wales, the bulk of which were made online at www.trustonline.org.uk. TrustOnline allows anyone to search for judgments and similar information registered against consumers and businesses in any jurisdiction across the British Isles and Ireland. “It is a unique benefit for consumers to be able to check the judgment record of any person or business with which they may be transacting,” said Mr Hurlston. “Negative information should give pause for thought.”
 
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