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Statistics released by Registry Trust show that the total value of
judgments faced by businesses in county courts in England and Wales has fallen
for the second consecutive year.
Registry Trust is the non-profit organisation which operates the Register of
Judgments, Orders and Fines for England and Wales in the public interest on
behalf of the Ministry of Justice.
The value of these debt judgments peaked in 2009 when businesses in England and
Wales faced debts totalling £899m. Since then their value has fallen 34 percent.
In 2011 businesses faced debt judgments worth a total of £592m compared with
£613m last year a fall of 3.4 percent.
This fall in value corresponds to a drop in the number of judgments since 2009.
Judgment numbers have fallen from 207,100 in 2009 to 150,900 in 2010 to 145,500
last year.
The number of searches conducted on debt information has increased dramatically
in recent years. Last year a record 99,400 searches were conducted on the
registers held for England & Wales - an increase of 36.4 percent on 2010.
In September 2011, Registry Trust was able to cut the cost of checking the
registers by more than half thanks to efficiency savings coming from a £1m
investment in the website in 2010. This is one of the reasons behind the
accelerated growth in the number of searches of the registers.
Announcing the statistics Malcolm Hurlston, Registry Trust chairman, stated:
“Over the past few years the debt landscape has changed dramatically. The
industry now has more, and more accurate, information than ever before to base
decisions on.
“Much of this is not available to the public, but our information is. Anyone can
search our registers to access information on past debt judgments.
"This is being used increasingly to help make better informed decisions on
creditworthiness.”
Source: Credit
Control Journal
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