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UK Business Debt Rises by a Quarter
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.
Statistics
Judgments against businesses Q1 2018 (compared with Q1 2017)
- Total number: 33,010 (up 8%)
- Total value: £105.1m (up 25%)
- Average value: £3,183 (up 16%)
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