THE total value of debt judgments in the north fell by 40 per cent last year, according to the latest figures.
Data from the Registry Trust shows the value of judgments in all courts in the north was £21.6m, compared to £36m in 2017.
However, just three percent of judgments in Northern Ireland were marked as satisfied.
This contrasts with 15 percent in England and Wales, where satisfaction rates are generally higher owing to differences between legal systems.
The fall in the overall Northern Ireland total was aided by a decline of over 50 per cent in the number of High Court judgments recorded last year (54).
This amounted to a record low total value of £4.5m, a drop of almost three quarters (73 per cent) on the 2017 total.
The average judgment of £82,381 was also 44 per cent less than the previous year.
The figures further show that small claims judgments, which make up the majority of the overall total, fell in terms of number and total value.
There were 8,021 small claims judgments in 2018, eight percent fewer than in the previous year, amounting to £17.1m.
The latter figure amounted to a 13 per cent fall on the 2017 total, with the average debt judgment £2,133.
In spite of the fall, the number of judgments is significantly higher than the record low recorded in 2016, where 7,349 claims were reported, representing a total value of £14m.
Reflecting on the latest figures, Registry Trust deputy chairman, Mick McAteer said:
“Northern Ireland saw a welcome fall in the number and value of judgments in 2018. It will be worth monitoring to see if judgment levels return to the lows seen in 2016.”
The Registry Trust received 30,541 requests to search its online Northern Ireland register in 2018. The system allows anyone to search for judgments and similar information registered against consumers and businesses.
“It is now cheap, quick and efficient to enquire about whoever you transact with. If there's a judgment on their record, think twice," Mr McAteer added.
