The Registry Trust, a not-for-profit company which operates the Register of Judgments and collates information on a range of court procedure, recently published figures indicating that around 1,000 less judgments were issued in respect of Scottish businesses in 2012. This is around 16% fewer than the previous year.
The statistics show that the number of judgments dropped from 25,857 to 22,378 between 2011 and 2012, with the total figure for business debt falling by £1 million to £27.6 million. Figures also reveal that the average judgment granted was £2,878 - again down from the previous year.
The data suggests that the average business debt owed was £5,437 in 2012 and that the total value of debt judgments encountered by consumers in Scotland decreased by almost a third last year.
Registry Trust Chairman, Malcolm Hurlston, commented that "falling judgment numbers may not necessarily mean there is less debt overall...taking a debtor to court is just one of a number of options available to a creditor". He continued that "it is noteworthy that creditors are finding it worthwhile to pursue smaller sums from consumers in the courts".
MacRoberts' Debt Recovery Group is able to advise on all methods of debt collection and offer a case management system for handling debt recovery needs. To discuss your individual requirements, please contact us.
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The material contained in this article is of the nature of general comment only and does not give advice on any particular matter. Recipients should not act on the basis of the information in this e-update without taking appropriate professional advice upon their own particular circumstances.
