Total value of debt judgments soars in Q3 2017

Northern Ireland debt judgments and small claims have soared in total value on last year, the Belfast Telegraph reports.

There were 2,186 judgments worth £5.9 million in Q3 2017, a 25 per cent increase in volume and 85 per cent increase in total value compared to Q3 2016, according to the Registry Trust.

The average value of a judgment also increased by 47 per cent to £2,704 in the three-month period compared to a year earlier.

There were 14 judgments issued in the High Court in Q3 2017, three fewer than in Q3 2016, continuing a years-long downward trend.

Registry Trust chairman Malcolm Hurlston said: “We are looking closely at where additional judgments are coming from, whether from traditional lenders, debt buyers or elsewhere.

“Any decision to take legal action is worth taking seriously whether taken by a lender or another agency reclaiming money.”