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Jersey judgments hit historic low PDF Print E-mail
Wednesday, 31 January 2018
The number of debt judgments in Jersey fell to a historic low during 2017, according to figures released today by Registry Trust. 

Registry Trust is the non-profit organisation which collects judgment information from jurisdictions throughout the British Isles and Ireland. In Jersey it collects, verifies and makes publicly available judgment records from the petty debts and royal court. A judgment is incontrovertible proof that debt has not been managed.

There were 1,724 judgments registered in Jersey during 2017, 12 percent fewer than in 2016. By contrast, 3,489 judgments were registered in 2010.

The number of debt judgments against consumers also decreased 12 percent to 1,500. There were 224 business judgments, 27 fewer than the year before.

There were 16.5 judgments issued per 1000 people in Jersey last year, compared with 20.0 per 1000 in England and Wales.

The mean average judgment increased 31 percent to £3,815. As a result the total value of all judgments rose to £6.6 million, up 15 percent.

Rising 117 percent, the mean average consumer judgment was £2,940. Six large consumer judgments, collectively worth almost £1,250,000, disproportionately contributed to the scale of this increase. Excluding these judgments, the mean average consumer judgment rose 57 percent to £2,117. The median consumer judgment rose in value 38 percent.

The median business judgment’s value rose 22 percent to £2,216.

During 2017, 9.8 percent of Jersey’s judgments were satisfied. This contrasts with 13.04 percent in England and Wales.

“Jersey's economy can look forward to a bright 2018 - on the basis of our judgment stats for last year” said Malcolm Hurlston CBE, chairman of Registry Trust. “There was generally sound borrowing and appropriate lending, leaving scope for more sensible borrowing in the current year.”

In 2017 Registry Trust received 30,635 requests to search the register for Jersey 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. “Anybody in Jersey can search our registers.” said Mr Hurlston. “It makes sense whenever you are contemplating a transaction.”
 

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