Value of debt judgments cut by a third

Monday 29 July 2019

The total value of debt judgments in Jersey fell by a third (36%) in the first half of 2019 compared to the same period 2018, from £4.1million to £2.6million, according to the latest figures released by Registry Trust.

There were 766 judgments registered in Jersey during the first half of 2019, 14% fewer than in the first six months of 2018 while the average value of judgments dropped 26% to £3,412, and the median fell by 20% to £250.

The number of debt judgments against consumers declined by 16% to 678 and the total value of consumer judgments dropped 31% to £2.1million. The average value of a consumer judgment was £3,102, 19% less than in 2018 while the median value fell to £216.

There were 88 business judgments in the first half of the year, two fewer than last year. The total value dropped to £510,358, half of what it was in 2018. The average judgment value also fell by 50% to £5,800, while the median business judgment’s value increased by 41% to £3,023.

Pictured: The statistics for the first half of 2019.

During the first six months of 2019, 4.9% of Jersey’s judgments were satisfied. This contrasts with 13.88% in England and Wales.

Mick McAteer, Registry Trust deputy Chairman, said: “Both the number and value of judgments against consumers in Jersey have shown a significant and, on the face of it, encouraging fall over the past year. It will be interesting to see if this improvement continues.”