DEBT JUDGMENTS REGISTERED AGAINST CONSUMERS IN JERSEY FALL BY OVER FIFTY PERCENT IN THE FIRST QUARTER OF 2021 COMPARED TO SAME PERIOD LAST YEAR
The number and value of judgments issued in the Jersey Petty and Royal Courts against consumers and businesses in the first quarter of 2021 (Q1 2021) fell sharply compared to the same period in 2020, according to data published today [16.04.2021] by Registry Trust. But, numbers are well up from the lows seen in Q2 2020.
The total number of judgments issued against consumers in Q1 2020 fell from 464 to 223, down 52 percent compared to the same period in 2020.
The total value of judgments issued against Jersey consumers fell by 33 percent from £578,127 to just £387,495. The average value rose by 39 percent from £1,246 to £1,738, although the median fell by 10 percent from £204 to £183. This suggests that, overall, fewer and smaller judgments were taken out but the average is skewed by a small number of larger value judgments.
Judgments against Jersey businesses also saw sharp falls. The numbers of judgments against businesses in Q1 2021 fell to just 16, a fall of 41 percent from the 27 issued in the same period of 2020.
The value of business judgments registered in the quarter was just £48,622, a drop of 52 percent compared to the £100,440 in the same period of 2020. The average value of business judgments fell 18 percent from £3,720 to £3,039, while the median value almost halved, down 46 percent, from £2,072 to £1,112.
Registry Trust Chair, Mick McAteer, said: “The latest data suggest that consumers and businesses in Jersey are holding up despite the economic shocks created by the Covid-19 pandemic. But, it is important to note that the full economic impact of Covid-19 may not yet have shown up in the data. Numbers are well up on the lows seen in Q2 2020 and may deteriorate further as protections provided by policy and regulatory interventions, and creditor forbearance are unwound.”
|Q1 2020||Q1 2021||Change (compared with 2020)|