The number of debt judgments marked as satisfied in Jersey almost halved during the first half of 2018, according to figures released by Registry Trust.
Registry Trust is the non-profit organisation which collects judgment information from jurisdictions throughout the British Isles and Ireland. In Jersey it collects, verifies and makes publicly available judgment records from the petty debts and royal court. A judgment is incontrovertible proof of unmanaged debt.
In Q1 and Q2 2018, a total of 895 debt judgments were made, four percent fewer than during the same period last year.
There were 8.5 judgments issued per 1,000 people in Jersey, compared with 10.8 per 1,000 people in England and Wales, during Q1 and Q2 2018.
During the period, 5.3 percent of Jersey’s judgments were satisfied. This contrasts with 9.7 percent during the first half of 2017.
Registrar, Malcolm Hurlston CBE, said: “Jersey consumers should make sure that they apply for a satisfaction if they have paid off their debt in full. If they don’t, they miss out on a great opportunity to improve their record and typically make borrowing easier and cheaper.”