There were significant falls in the number of judgments registered against Irish consumers and businesses in the first quarter of this year, figures released by the Registry Trust show.
The number of judgments against consumers fell by 73 per cent, from 565 to just 155. The total value fell by 71 per cent, from nearly €26 million in the first quarter of 2020 to €7.6 million in the same period this year.
However, the average value of consumer judgments rose by more than 7 per cent from €45,924 to €49,223, while the median value fell by nearly 20 per cent, from €7,827 to €9,387. Fewer but larger judgments on average were taken out against consumers.
Judgments against Irish businesses also saw sharp falls from 252 to 89, down 65 per cent. However, the total value registered against businesses rose by 31 per cent, from €3.8 million to just over €5 million. This meant that the average value saw a huge rise, up 270 per cent from €15,184 to €56,183.
Registrar Mick McAteer said: “The latest data on judgments showing large falls in the number of judgments this quarter suggests that income support and regulatory interventions have shielded Irish households and businesses from the worst effects of the financial shocks caused by Covid-19.
“But, the picture may be very different once the support measures are wound down. Numbers are already up sharply from the lows seen in the second quarter of 2020.”
