A £2 million fall in the value of debt judgments for the third quarter of 2010 will come as welcome news in Northern Ireland.
According to figures released last week by Registry Trust, the non-profit organisation that collects judgment information from Northern Ireland and other jurisdictions in the British Isles, £7.7 million of debt judgments was issued in the third quarter of 2010 compared with £9.6 million in the same period of 2009.
However, Q3’s figure represents an 18 percent increase on the previous quarter.
Announcing the statistics, chairman of Registry Trust, Malcolm Hurlston, said: “Although this release shows Northern Ireland has recovered from the depths of last year’s situation, more dark clouds are visible on the horizon.
“The Comprehensive Spending Review will hit hard in Northern Ireland. In the coming round of belt-tightening I encourage people to check past debt records on our website before doing business.”
The number of searches performed on the Register by people checking past judgment records exceeded the previous record, reaching 1,888 searches in one quarter.