DEBT JUDGMENTS AGAINST NORTHERN IRELAND CONSUMERS DOWN BY NEARLY 12 PERCENT IN THE FIRST HALF OF 2021 COMPARED TO SAME PERIOD LAST YEAR
The number of debt judgments registered against Northern Ireland consumers in the first half of 2021 (H1 2021) was 1,678, a fall of nearly 12 percent from the 1,900 in the same period last year, according to figures released today (27.07.2021) by Registry Trust.
But, the total value of judgment debt owed by consumers rose by nearly 10 percent from £4.2 million in H1 2020 to £4.6 million in H1 2021. As a result, the average value of consumer judgments rose by 25 percent, from £2,206 last year to £2,748. The median value was also higher, up eight percent, from £888 to £963.
Judgments against Northern Ireland businesses fell by more, down 24 percent from 353 in H1 2020 to 269 in H1 2021. The total value of business judgments fell by a similar degree, 21 percent, from £1.2 million to £976,602.
As a result, the average value of business judgments rose slightly, by three percent, from £3,521 to £3,630. But, the median value was 14 percent higher, at £1,605 compared to £1,020 in the same period last year. This suggests there were fewer smaller judgments pushing up the median value.
Registry Trust Chair Mick McAteer said: “It is welcome that the number of judgments against Northern Irish consumers in the first half of this year is down compared to the same period last year. This reflects the fact that judgment numbers were very high pre-Covid, and interventions by government and regulators, and forbearance by creditors have been protecting consumers. But, as these measures are being wound down, numbers appear to be trending upwards again suggesting the Covid economic crisis is far from over for financially vulnerable households.”.
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|Half Year 1 2020||Half Year 1 2021||Change (compared with 2020)|
|Judgments against consumers|
|Judgments against all businesses|
|Judgments against incorporated businesses|
|Judgments against unincorporated businesses|