The number of County Court judgments against Businesses in England & Wales has fallen in the first quarter of the year for the sixth year running.
Data gathered from the Registry trust shows that there were a total of 26,195 County Court Judgments (CCJs) issued against companies within England/Wales in 2015 showing a massive 10 percent decrease compared with figures released for the same period of 2014.
Also seeing a significant decrease was the average value of a CCJ issued. The average for the first quarter was £3,340 which represented a 8% decrease for the same period last year.
These figures showed consistency for both incorporated and unincorporated businesses which was welcomed by Business experts.
Malcolm Hurlston CBE is Chairman of the Registry Trust and he commented “Business in England & Wales is on an upward trend with many fewer enterprises getting into financial difficulty”
He continued “There would appear now to be a scope for a more positive approach towards borrowing”
The growth of Expert Commercial Debt Collection options available to Companies is also viewed to have had a significant impact on these latest figures.
Pro active Commercial Debt Recovery firms such as Federal Management can minimise the need for pro tractive and expensive court actions. Federal boast high recovery rates and adopt alternative collection practices to those of Commercial Law firms.
High Court Judgments also saw a huge drop with only 30 being issued. the lowest since 2008.