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Judgments up but satisfactions low PDF Print E-mail
Wednesday, 09 August 2017
The number of debt judgments in Northern Ireland increased during the first half of 2017, 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 failure to manage debt.

There were 4,101 small claims judgments in the first six months of the year, a year on year increase of 11 percent. The total value rose by 21 percent to £8.3m. The average value of a small claims judgment rose by nine percent to £2,031.

In the High Court, 75 judgments were issued worth a total of £12.5m. The average High Court judgment was £165,692.

Only 3.52 percent of judgments in Northern Ireland were marked as satisfied in the first two quarters of 2017. This contrasts with 12.02 percent in England and Wales, where satisfaction rates are generally higher owing to differences between the legal systems.

Under a new initiative developed by Registry Trust, lenders are being encouraged to notify the Trust directly when a judgment has been settled to their satisfaction. This will make an immediate difference in Northern Ireland, helping transform access to credit for thousands of consumers.

“Although defendants in Northern Ireland have every opportunity to notify us when they have satisfied a judgment, it is clearly not happening enough,” said Registry Trust chairman Malcolm Hurlston CBE. “It will be in everybody’s interest if claimants make it best practice to notify the Trust. Then positive information will reach credit files and public notice quicker.”
 

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