Contact our debt recovery specialists. Call 0141 331 2332
The total value of UK business judgments rose sharply - by 25% - during the first quarter of the year, according to figures released today by TrustOnline.
Over the same period, the number of online searches by people checking judgment status grew by 7%, compared to Q1 2017, to just under 75,000 searches.
TrustOnline is the only online source for UK judgment information about other people and businesses.
During Q1 2018, just over 33,000 business judgments were registered in the UK, 8% more than the total issued in Q1 2017. The average value of a business judgment also increased, rising by 16%.
As a result of these changes, the total value of UK business judgments in the county courts sharply rose by a quarter compared to the first quarter of 2017.
These statistics cover county court judgments registered in England and Wales; simple procedure, ordinary cause and small claims decrees registered in Scotland; and default and small claims decrees from Northern Ireland.
Malcolm Hurlston CBE for Trust Online said, “Judgments against businesses clearly show failure in financial management. This quarter's increase is a warning sign and it would be good to see an equivalent rise in searches.”
During Q1 2018, TrustOnline handled 74,649 online searches from the public for judgments in the UK; many more are expected in 2018 with more judgments to search and a mobile friendly version ready for launch. A search of all UK registers costs £10; a search within one of the following three jurisdictions: England and Wales; Scotland; or Northern Ireland, which is likely to be enough in many circumstances, costs £6.
Yuill + Kyle are an extremely focused firm who are achieving great results for us north of the border. Their client-focused staff keep us 'in the loop' so we are able to make timely decisions, helping us to recover more of our money.
I would not hesitate to recommend Yuill + Kyle's services to other business colleagues. I recently sent Yuill + Kyle's pre-sue letter to 2 debtors. Within 2 days of Yuill + Kyle sending these letters one of the debtors paid his £560 and the other his £750, all for the fee of a 7 day letter!
I instructed Yuill & Kyle to send a pre-sue letter to my debtor. This resulted in the debtor paying their outstanding £2750. We also received a letter of apology from them!! Great result!!
I have to say that Yuill + Kyle have represented my best experience to date with solicitors, and although I was unable to take this matter further on this occasion I would have no hesitation in using you again or recommending you to others.
I would really like to recommend your services to everyone considering litigation. Your online service is fast, efficient and easy to use. We found that your costs are simply unbeatable for pre-litigation and I feel sure that when we require legal support, Yuill + Kyle will be our first choice.
Yuill + Kyle successfully recovered £19,000 for our client. We were delighted with their professionalism and fully intend to use them again in the future.
"Stephen Cowan displays calm equanimity in the face of challenging, complex and often adversarial situations, and responds quickly and professionally."
Contact our debt recovery specialists.Call 0141 331 2332
Legal changes can have a dramatic impact on you and your business. To ensure you are kept up to date with the latest developments and have the knowledge to make timely, effective decisions, please sign up for our free updates.