The number of debt judgments issued in the Isle of Man Courts of Justice against consumers fell significantly in 2021 compared to 2020, according to data published by Registry Trust.

The trust is a non-profit organisation which maintains the Register of Judgments, Orders and Fines for the UK and Ireland.

The number of judgements was down 19% from 217 in 2020 to 175 in 2021 and the total value was down 39% from £2.4 million to £1.4 million.

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The average value of debt judgments issued against consumers in the Isle of Man also declined by 24% in 2021 (£8,199) compared to 2020 (£10,856) and the median value fell by 13% from £778 to £676.

The number of monetary judgments against island businesses also declined sharply, falling by 42% from 48 in 2020 to 28 in 2021 with a total decline in value of 86% from £1 million to £140,985.

Consequently, the average value of business judgments was much lower, down from £20,960 in 2020 to £5,035 in 2021, a large fall of 76%.

But the median value actually rose by 13% from £2,652 to £2,987.

The Registry Trust did however note that Isle of Man business judgment numbers are small and can be subject to large fluctuations in values, so ’care should be taken on how these are interpreted’.

Chair Mick McAteer said judgment numbers against Isle of Man consumers and businesses fell significantly in 2021 and remain well below pre-Covid crisis peaks.

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Indeed, annual numbers are the lowest they have been in five years.

’This is encouraging as it suggests Isle of Man consumers and businesses are still being shielded from the economic and financial shocks created by the Covid.

’However, the bigger picture across the UK is not so reassuring and we’ll be monitoring our data carefully to see what happens next here and elsewhere.’

Anybody can search for entries against a person or business at a stated address or a corporate body in the British Isles at www.trustonline.org.uk