REGISTERED DEBT OWED BY SCOTTISH CONSUMERS SEES LARGE RISE IN Q2 2021 COMPARED TO LOWS SEEN IN SAME PERIOD LAST YEAR
The number of decrees and total amount of debt registered against Scottish consumers saw large rises in the second quarter of 2021 (Q1 2021) compared to the same period last year, according to figures released today (27.07.2021) by Registry Trust.
The number rose from 1,419 to 3,991 in Q2 2021, a rise of 181 percent from Q2 2020. The total value saw a similar rise, an increase of 170 percent from £4.5 million to £12.1 million. The average value fell slightly, down four percent from £3,175 to £3,044. The median value rose by 17 percent, from £1,537 to £1,800.
The number of decrees against Scottish businesses also rose, but not by as much as consumer decrees, up 36 percent from 268 to 365. The total value actually fell by nearly one-third from just under £2 million to £1.4 million. As a result, the average value halved, falling from £7,455 to £3,714. However, the median value rose by 32 percent from £1,500 to £1,977. This suggests there were fewer very large judgments and fewer smaller judgments.
The number of decrees against incorporated businesses increased by 40 percent, from 222 to 312. The total value rose slightly, up two percent from £1.17 million to £1.2 million. The average value declined by over one quarter, 27 percent, from £5,284 to £3,833. The median value rose by 42 percent from £1,402 to £1,988.
Decrees against smaller businesses also rose, from 46 to 53, an increase of 15 percent. The total value saw a large fall of 80 percent £824,891 to £159,634. As a result, the average value saw a similar large drop of 83 percent from £17,932 to £3,012. The median value fell by 23 percent from £2,313 to £1,779.
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.”
- Ends –
|Q2 2020||Q2 2021||Change (compared with 2020)|
|Decrees against consumers|
|Decrees against all businesses|
|Decrees against incorporated businesses|
|Decrees against unincorporated businesses|