Business CCJs in Scotland saw a fifty two per cent (52%) increase in decrees and judgments against them in the first quarter of 2022. This huge rise is in comparison with the same period last year, 2021.
The total value of these judgments also rose by a massive 269%. The total value of judgment debt went from just under £2.1m to more than £8m.
Registry Trust, the not-for-profit organisation which maintains the Register of Judgments, Orders and Fines for the UK & Ireland, has released its latest monetary judgment statistics.
There were 230,239 new monetary judgments processed overall in UK & Ireland – a 10% decrease year-on-year.
However, while the number of consumer judgments fell, there was a significant rise in county court judgments (CCJs) and Scottish decrees against businesses.
A decree is incontrovertible proof that business debt has not been managed. A decree is the Scottish name for a County Court Judgment.
Registry Trust chair Mick McAteer said: “Although there was a welcome fall in the number of decrees registered against Scottish consumers in the first quarter of this year compared to the first quarter of last year, there is no room for complacency, as the full impact of the cost of living crisis is yet to be felt by households.
“The significant increase in the number and value of decrees against Scottish businesses is a cause for concern and reflects the serious challenges they face in the current economic climate.”
Dealing with Unpaid Business CCJ’s is a challenge that many are turning to enforcement for.