JERSEY CONSUMER JUDGMENTS DROP IN VALUE BY 47 PERCENT IN Q4 2019

JUDGMENTS AGAINST SMALL BUSINESSES IN JERSEY RISE 33 PERCENT

The number of judgments against Jersey consumers rose slightly in Q4 2019 compared to Q4 2018 but fell by nearly half in value terms, according to figures released today (Date: 27/01/2020) by Registry Trust.

The total value of consumer judgments fell from £1,135,580 in Q4 2018 to £605,646 in Q4 2019. The average value of a Jersey consumer judgment was £4,100 in Q4 2018, compared to just £2,110 in Q4 2019, a decrease of 49 percent. The median value fell 50 percent from £728 in Q4 2018 to only £365 in Q4 2019.

While there was a small increase in the total numbers of judgments against individuals, the falls in total, average and median values suggests that lower value judgments are being taken out against Jersey consumers. Judgments in the £500-3000 range fell sharply but judgments for less than £500 saw a large growth.

The number of judgments against small businesses rose by 33 percent in Q4 2019. The value of judgments against small businesses more than doubled (111 percent), although from a small base, from £22,348 in Q4 2018 to £47,106 in Q4 2019. The average value rose by more than half from £2,483 in Q4 2018 to £3,926 in Q4 2019.

The total number of judgments across all business types fell by two percent. The total value fell by 20 percent from £342,508 to £273,192. While the average value fell sharply, the median value rose by 33 percent meaning fewer smaller value judgments were taken out.

Registry Trust is a non-profit organisation. In Jersey it collects, verifies and makes publicly available judgment records from the petty debts and royal court.

Registry Trust chairman, Mick McAteer said “The total number of judgments against Jersey consumers was fairly stable this quarter, but the total value nearly halved suggesting creditors were taking out more smaller judgments.”