The number of debt judgments in Jersey fell in 2018 compared with 2017, according to figures released this week by Registry Trust. However, the total value of judgments increased during the same year.
There were 1,492 judgments registered in Jersey during 2018, 14% fewer than in 2017. By contrast, 3,489 judgments were registered in 2010.
The number of debt judgments against consumers in 2018 decreased 12% to 1,318 and there were 174 business judgments, 22 fewer than the year before.
During 2018, the average value of judgments increased 41% to £5,370. The total value of all judgments rose 22% from £6.6 million to £8 million.
The average value of consumer judgments in 2018 was £4,456, a rise of 52% on 2017, though the median value paints a different picture falling by 14% to £371 in 2018.
The median business judgment’s value fell just 2% to £2,166, though the average 2018 judgment value rose 27% compared with the 2017 average, to £12,295.
Registry Trust's role
Registry Trust is the non-profit organisation which collects judgment information from jurisdictions throughout the British Isles and Ireland. In Jersey it collects, verifies and makes publicly available judgment records from the petty debts and royal court. A judgment is incontrovertible proof of unmanaged debt.
During 2018, 5.4% of Jersey’s judgments were satisfied, compared with 15.3% in England and Wales.
Registry Trust deputy chairman Mick McAteer said: “The number of judgments in Jersey continued to fall in 2018. The 2018 number is now well under half the figure we saw in 2010 as we came out of the great financial crisis. But the total and average value rose, suggesting there are still some very large judgments working through the system."
• To view the full set of statistics click here