Value of debt judgments increases as numbers go down

Monday 13 August 2018

The number of debt judgments in Jersey almost halved during the first half of 2018, while their value rose by 43%, according to the latest figures released by Registry Trust - a UK-based non-profit organization which collects information on debt judgments throughout the British Isles and Ireland.

In Q1 and Q2 2018, a total of 895 debt judgments were made, 4% fewer than during the same period last year.

Despite falling in number, the total value of judgments skyrocketed 43% compared to a year prior. A massive 53% spike in the total value of consumer judgments disproportionately accounted for this increase.
 
The scale of this increase was skewed by "two mammoth outlying consumer judgments," each worth £965,262. Excluding these judgments the total value of judgments registered fell by a quarter; the value of consumer judgments fell by 43%. Meanwhile, the total value of business judgments rose by 19%.
 
There were 8.5 judgments issued per 1,000 people in Jersey, compared with 10.8 per 1,000 people in England and Wales, during Q1 and Q2 2018.
 
During the period, 5.3% of Jersey’s judgments were satisfied. In 2017, 83% more judgments were satisfied in that period.
 
In Q1 and Q2 2018 Registry Trust received 16,497 requests to search the register for Jersey online. TrustOnline allows anyone to search for judgments and similar information registered against consumers and businesses in any jurisdiction across the British Isles and Ireland.
 
“Anybody on Jersey can search our registers.” said Registrar Malcolm Hurlston CBE. “It makes sense whenever you are contemplating a transaction.”