REGISTERED DEBT OWED BY SCOTTISH CONSUMERS SEES LARGE RISE IN Q3 2021 COMPARED TO SAME PERIOD LAST YEAR
The number of decrees and total amount of debt registered against Scottish consumers saw large rises in Q3 2021 compared to the same period last year, according to figures released today (14.10.2021) by Registry Trust.
The number rose from 2,805 to 3,487 in Q3 2021, a rise of nearly one quarter from Q3 2020. The total value saw an even bigger rise, up by 51 percent, from £7.6 million to £11.4 million. As a result, the average value rose by 21 percent, from £2,710 to £3,280. The median value rose by 29 percent, from £1,265 to £1,628.
The number of decrees against Scottish businesses was almost unchanged, at 523 compared to 525 in Q3 2020. The total value rose by one quarter, from £2 million to £2.5 million. As a result, the average value rose by 26 percent, from £3,863 to £4,851. The median value also rose, by 27 percent from £1,203 to£1,523.
The number of decrees against incorporated businesses rose slightly, by just over two percent, from 437 to 447. The total value rose by one fifth, from £1.7 million to £2 million. The average value saw a rise of 17 percent, from £3,858 to £4,530, with the median value up by 43 percent from £1,050 to £1,500.
But, decrees against smaller businesses fell by 14 percent, from 88 to 76. However, the total value rose by nearly 50 percent, from £342,036 to £512,047. As a result, the average value saw a large increase of 73 percent, from £3,887 to £6,737. The median value rose by 69 percent from £1,424 to £2,411.
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 have begun to rise again. The Covid economic crisis is far from over for financially vulnerable households.”
- Ends –
|Q3 2020||Q3 2021||Change (compared with 2020)|
|Decrees against consumers|
|Decrees against all businesses|
|Decrees against incorporated businesses|
|Decrees against unincorporated businesses|