REGISTERED DEBT OWED BY SCOTTISH CONSUMERS RISE IN FIRST HALF OF 2021 COMPARED TO SAME PERIOD LAST YEAR, BUT BUSINESSES FARE BETTER
The number of decrees and total amount of debt registered against Scottish consumers rose in the first half of 2021 (H1 2021) compared to the same period last year, according to figures released today (27.07.2021) by Registry Trust.
The number increased from 6,849 to 8,043 in H1 2021, a rise of 17 percent from H1 2020. The total value rose by 23 percent, from £18.8 million to £23.1 million. The average value was up slightly, by 4.8 percent, from £2,742 to £2,876. The median value rose by 16 percent, from £1,454 to £1,689.
In contrast, the number of decrees against Scottish businesses fell, by 19 percent, from 990 to 799. The total value fell by 29 percent, from just under £5 million to £3.5 million. The average value fell by 12 percent, from £5,045 to £4,438. However, the median value rose by 46 percent from £1,442 to £2,108. This suggests there were fewer very large judgments and fewer smaller judgments.
The number of decrees against incorporated businesses fell by 21 percent, from 839 to 665. The total value saw a similar fall, down 22 percent from £3.7 million to £2.9 million. The average value was slightly lower, down just under two percent from £4,463 to £4,390. The median value rose by nearly two-thirds from £1,317 to £2,169.
Decrees against smaller businesses also fell, by 11 percent, from 151 to 134. The total value nearly halved from £1.25 million to £626,393. As a result, the average value saw a similar large drop of 44 percent from £8,278 to £4,675. The median value rose by eight percent from £1,700 to £1,840.
Trust chair Mick McAteer said: “We saw a large rise in the number and value of decrees recorded against Scottish consumers in this quarter compared to the same period last year. At that time, interventions by government and regulators, and forbearance by creditors, in response to the Covid crisis had kept judgment numbers at historically low levels. But, as these measures were wound down, numbers began to rise again. The Covid economic crisis is far from over for financially vulnerable households. Scottish businesses fared better with decrees continuing to fall”.
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|Half Year 1 2020||Half Year 1 2021||Change (compared with 2020)|
|Decrees against consumers|
|Decrees against all businesses|
|Decrees against incorporated businesses|
|Decrees against unincorporated businesses|