Credit Strategy
LinkedIn
Twitter
0 £0.00
This item was added to your basket

Dear visitor,
You are viewing 1 of your 2 free articles


To view more free articles, please register

Free registration or Login

Spike in CCJs against businesses could be “a cause for alarm”

Closer examination is needed to reveal why the number of county court judgments (CCJs) against businesses has risen nearly 40 percent this year, according to Registry Trust.


Amber-Ainsley   Pritchard

Share on Twitter Linkedin black
Amber-Ainsley   Pritchard
Share on Twitter Linkedin black

Registry Trust is a non-profit company that maintains public records of judgment and decree information for most jurisdictions in the British Isles and Ireland.

 

Figures from the trust found that in the first quarter of 2017 nearly 30,000 CCJs were registered against businesses in England and Wales – an increase of 36 percent compared to the same period last year.

 

The trust said this “bucks” the downward trend which lasted seven years.

 

Compared to the first quarter of 2016, the total value of business CCJs rose by four percent to £81m.

 

The trust found the average value of a business judgment fell 24 percent to around £2,700 – the lowest average for a single quarter on record.

 

Malcolm Hurlston CBE, chairman of Registry Trust, said: “This sudden reversal of trend may well be a cause for alarm.

 

“Judgments against consumers have been rising for technical reasons. There is no equivalent reason for judgments against companies to have jumped to this extent. Closer examination is needed to unveil the truth behind the statistics.”

 

The trust also found that the number of CCJs against consumers, in the first quarter of 2017, hit an all time high.

 

In the first three months of 2017, Registry Trust received more than 53,000 requests to search the Trust Online register for judgments and similar information registered against consumers and businesses.

 

Hurlston said: “It is a unique benefit for consumers to be able to check the judgment record of any business or indeed person. If you plan any kind of transaction, check first.

 

“If you find some negative information, think twice. As overall judgment numbers against businesses fall, those which mismanage present a clearer risk.”

 

In December last year, the Ministry of Justice pledged to crackdown on unresolved debt claims.

Share on Twitter Linkedin black
Add New Comment

YOU MIGHT ALSO LIKE


Get involved

Get involved with Credit Strategy events

Changes demanded after wrongful jail sentences for council tax

Debt advice firm PayPlan is calling for enhanced training for legal advisers and court staff, after 17 people were unlawfully sent to prison for council tax arrears last year

FCA action sees loan shark jailed

A convicted illegal money lender has been sentenced to prison and issued with the Financial Conduct Authority’s (FCA) first Serious Crime Prevention Order (SCPO)

LATEST IN ANALYSIS


The CS Interview

The patriot

The patriot

Features

Ahead of the curve: Five reasons why Intelligent Environments secured the Best Collections Technology Award
Share on TwitterLinkedin black

Ahead of the curve: Five reasons why Intelligent Environments secured the Best Collections Technology Award

Opinion

"There are upcoming opportunities for both government and regulators to step up and deliver meaningful change"

"There are upcoming opportunities for both government and regulators to step up and deliver meaningful change"

Bank NPL analysis

Banks continue purge of bad debt from balance sheets

Banks continue purge of bad debt from balance sheets

Events

Credit Week 2018

Credit Summit

CDSP European NPL

Women in Credit Awards 2018

ENJOY READING?

Credit Strategy
LinkedIn page

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace.
@ Copyright Shard Media Group