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|Debt judgments hit post crisis low|
|Tuesday, 25 October 2016|
The total number and value of debt judgments in Northern Ireland during the third quarter of the year fell 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 Northern Ireland it collects information on defaults and small claims judgments, and high court judgments. A judgment is incontrovertible proof of unmanaged debt.
There were 1,746 small claims judgments in Q3 2016, a year on year decrease of 16 percent. While the total value fell 14 percent to £3.2m, the average value of a small claims judgment rose slightly by 3 percent to £1,834.
Meanwhile, the total number and value of judgments issued by the High Court similarly fell to its lowest third quarter level on record, with only 17 judgments registered and worth a total value of £1.3m. The average value of a High Court judgment was £78,978.
“Pre-Brexit the Northern Ireland economy looks in good shape,” said Registry Trust chairman Malcolm Hurlston CBE. “Debt is being managed well by consumers and businesses alike.”
In Q3 2016 Registry Trust received 7,448 requests to search the register for Northern Ireland online at www.trustonline.org.uk. Through TrustOnline people in Northern Ireland can search for judgments and similar information registered against businesses and consumers anywhere in the British Isles and the Republic. “It is a unique benefit for consumers to be able to check the debt record of any person or business with which they may be transacting,” said Mr Hurlston. “Negative information would certainly make me think twice.”
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