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THE NUMBER OF DEBT JUDGMENTS ISSUED AGAINST CONSUMERS IN THE ISLE OF MAN FALLS BY OVER EIGHTY PERCENT IN Q3 2020

The number and value of judgments issued in the Isle of Man Courts of Justice against consumers fell sharply in the third quarter (Q3) of 2020, according to data published today (20th Oct 2020) by Registry Trust.

The total number of judgments issued against consumers in Q3 2020 was 126, a fall of 81 percent compared to the 678 in the same period in 2019. The value of judgments issued against consumers fell by a staggering 92 percent from nearly £57 million to just £4.6 million. The average value fell by more than half from £83,882 to £36,848. The median also fell from £16,290 to £10,314, a fall of 37 percent.

Judgments against Isle of Man businesses also saw steep falls. The numbers of judgments against businesses in Q3 2020 was 78, a fall of 59 percent from the 192 issued in the same period of 2019.

The value of business judgments registered in the half year was less than £1 million (£907,346), a huge fall of 82 percent compared to the nearly £5 million in the same period of 2019. The average value of business judgments fell by 55 percent, from £26,039 to £11,633, with the median dropping by 14 percent from £7,000 to £5,987.

Registry Trust chairman, Mick McAteer said: The latest data would suggest that consumers and businesses are doing well despite the economic and financial shocks created by the Covid19 pandemic. But, it is important to note that the full economic of Covid19 has not shown up in the data. The protections provided by policy and regulatory interventions, and creditor forbearance, meant judgment activity entered a state of almost suspended animation since the pandemic hit. That will change as protections are unwound.”

Half Year 2019 Half Year 2020 Change (compared with 2019)
Judgments against consumers
volume 678 126 -81.42%
total value £56,872,025 £4,642,980 -91.84%
average* value £83,882 £36,849 -56.07%
median value £16,290 £10,314 -36.68%
Judgments against all businesses
volume 192 78 -59.38%
total value £4,999,408 £907,346 -81.85%
average* value £26,039 £11,633 -55.33%
median value £7,000 £5,987 -14.47%
Judgments against incorporated businesses
volume 135 61 -54.81%
total value £4,469,323 £735,521 -83.54%
average* value £33,106 £12,058 -63.58%
median value £8,862 £5,970 -32.63%
Judgments against unincorporated businesses
volume 57 17 -70.18%
total value £530,085 £171,825 -67.59%
average* value £9,300 £10,107 8.68%
median value £5,579 £8,733 56.53%
Satisfactions
volume 56 53 -5.36%
total value £74,073 £59,749 -19.34%
average* value £1,323 £1,127 -14.81%
median value £843 £538 -36.18%

For more information contact

press@registry-trust.org.uk

0207 391 7287

www.registry-trust.org.uk

Notes for editors

Registry Trust is the Registrar for Judgments, Orders and Fines in England and Wales on behalf of the Ministry of Justice. The Register includes county court judgments, high court judgments, CSA liability orders, fine defaults and tribunal awards for England and Wales.

CCJs are removed from the register if paid in full within one calendar month of the judgment date, but will otherwise remain registered for six years. If fully paid outside the one calendar month, defendants can apply to have the judgment marked as ‘satisfied’ which will improve their credit rating.

Anyone may search for entries against a named person or business at a stated address or a corporate body in Great Britain, Northern Ireland and the Republic of Ireland by visiting Registry Trust’s website www.trustonline.org.uk or by writing to Registry Trust, 153-157 Cleveland Street, London W1T 6QW.