Consumer court debt down £90m

June 19, 2011 - PRLog -- The quarterly value of debt judgments against consumers in England and Wales has fallen £90m (16.7 percent) year on year according to statistics released today (May 24) by Registry Trust Ltd.

The figures show a drop from £538.8m in Q1 2010 to £448.8m in Q1 2011.

Registry Trust is the non-profit organisation which operates the Register of Judgments, Orders and Fines for England and Wales on behalf of the Ministry of Justice in the public interest. Judgment information is a key indicator in credit decisions.

The total is 5.4 percent lower than the previous quarter, having fallen £25.8m from £474.6m to £448.8m.

The £448.8m figure is the sum of 143,946 judgments – 5.9 percent fewer than the 152,915 recorded in Q1 2010 and 1.6 percent fewer than last quarter’s aggregate of 146,258.

This quarter a record 23,832 searches were requested. Anyone can search the registers online at www.trustonline.org.uk.

Announcing the statistics, Malcolm Hurlston, chairman of Registry Trust said: “When numbers of judgments fall the information provided by each one becomes more precious.

“In certain cases this judgment will be the only indicator of
creditworthiness available to a lender.

“It is pleasing therefore to see the public’s interest in the register rising. Trustonline is the only place where you can access your own and other peoples’ judgment histories which can help you make more informed lending decisions.”

http://www.griffinandking.co.uk/

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Griffin and King are a leading firm of Insolvency Practitioners within the West Midlands with offices covering Dorset, Hampshire, Shropshire and Mid Wales