DEBT JUDGMENTS AGAINST NORTHERN IRELAND CONSUMERS FALL BY OVER ONE THIRD IN FIRST QUARTER 2021 BUT NUMBERS ARE RISING SHARPLY AGAIN
The number of debt judgments registered against Northern Ireland consumers in the first quarter of 2021 (Q1 2021) fell from 1,476 to 972, a fall of just over one third compared to the same period last year, according to figures released today (16.04.2021) by Registry Trust.
The total value of judgment debt saw a smaller fall, down 6.3 percent from £3.2 million to just under £3 million. The average value of consumer judgments rose by 42 percent, from £2,159 last year to £3,071. The median value rose by more than 14 percent from £814 to £930. This suggests creditors took out fewer, larger judgments against consumers in the quarter.
But, numbers are rising sharply again up 39 percent compared to the previous quarter (Q4 2020) and 129 percent from the lows seen in Q2 2020.
The period also saw large falls in the number and value of judgments against businesses in Northern Ireland. The number of judgments registered in Q1 2021 was just 152, compared to 261 in Q2 last year, a fall of 42 percent. The total value of judgments against Northern Ireland businesses fell from £982,467 to £691,881 a fall of 30 percent. The average value of business judgments rose steeply, from £3,764 to £4,552, up 21 percent. The story is one of fewer, but larger, business judgments in the quarter.
Registry Trust Chair, Mick McAteer, said: “The latest Registry Trust data shows that Government and regulatory interventions, and forbearance by creditors, in response to the Covd-19 economic crisis clearly helped households. But, as we expected, the damage to household finances caused by Covid is now showing up in the numbers as those protection measures are wound down”.
|Q1 2020||Q1 2021||Change (compared with 2020)|
|Judgments against consumers|
|Judgments against all businesses|
|Judgments against incorporated businesses|
|Judgments against unincorporated businesses|