Debt judgments down but value up

Thursday 26 October 2017

Registry Trust - a UK-based non-profit organization which collects information on debt judgments throughout the British Isles and Ireland – say the number of debt judgments in Jersey fell slightly during the third quarter of the year.

In their report they say during Q3 2017, a total of 403 judgments were made, a six percent decrease from the same quarter last year.

The number of debt judgments against consumers fell seven percent, while the number made against businesses rose by three to 44.

There were 3.9 judgments issued per 1000 people in Jersey, compared with 5.9 per 1000 people in England and Wales, during Q3 2017.

In contrast to the fall in numbers, the total value of debt judgments stood at £1,953,318 for the period, up 129 percent, but this was heavily affected by two business judgments totalling over £800,000.

These also influenced the average value of judgments which increased by 142 percent to £4,847.

The average business judgment’s value rose by 243 percent to £23,096; but there was a fall of 30 percent if we discount the two outliers.

The average consumer judgment was £2,610, £1,115 higher than a year ago. Nonetheless, this was well below the average value of consumer judgments over the past ten years, which stand at £4,202.

During the period, 12.9 percent of Jersey’s judgments were satisfied. This contrasts with 9.84 percent in 2016.

Registrar Malcolm Hurlston said “This quarter figures present a mixed picture for the Jersey economy. But comparisons with England and Wales are generally favourable.“