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Judgments for debt plummet 76pc in month

Thursday, October 25 10:57:05

The value of registered judgments in Ireland between the 22nd of September and the 21st of October inclusive fell by 76 per cent when compared to the previous month, according to data released today by Experian.

The total value of judgments registered was approximately E21 million.

The data shows that a total of 512 judgments were secured during the four week period adding up to a total value of E21,705,796.

The majority of these were secured against individuals, with 374 judgments totalling E19,051,843 registered.

Experian found that 138 judgments were registered against businesses totalling E2,653,953.

In keeping with previous months, Dublin had the highest total of judgments registered with 149 totalling E7,513,993. There were 43 judgments against businesses totalling E596,754 and 106 judgments against individuals totalling E6,917,238.

Cork had the second highest total value of judgments registered with 71 judgments totalling E6,748,396. There were 14 judgments against businesses totalling E604,943 and 57 judgments against individuals, totalling E6,143,454.

Kildare had the third highest total value of judgments with 37 judgments, totalling E877,350. There were 14 judgments registered against businesses totalling E254,602 and 23 judgments against individuals totalling E622,748.

The North West region saw the lowest value of judgments. Sligo led this trend with the lowest total value of judgments with just one judgment registered between the 22nd of September and the 21st of October totalling E1,940.

Roscommon had the second lowest value of judgments with three judgments totalling E11,533; there were two judgements against businesses totalling E3,757 and one against an individual totalling E7,776.

Leitrim had the third lowest total value of judgments with four judgments totalling E50,339. Of these three were against businesses, totalling E38,918 and one was registered against an individual, totalling E11,422.

Danielle Span-Dominy, Experian Gazette explained: "For the second month in a row, the total value of judgments registered in the Republic of Ireland has fallen significantly. However, the volume of judgments has remained consistent with 512 judgments registered this month compared to 508 last month."

"It is essential for businesses to keep track of changes to their customers' business activities and financial status. Experian Gazette is an early-warning system that gives businesses better control over their accounts and credit terms, helping them to make the safest business decisions."