Value Decline for Debt Case Judgments against Companies and Firms
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Recent financial figures released by leading financial companies have shown decreased value of debt judgment. There is 26% of decline rate has been noticed against the value of debt judgments against UK businesses. It has reached to £119.9 million in third quarter of current year 2012. The figure has been calculated in terms of same period of previous year and it is found to be declined rate.
Registry trust has issued the most recent financial statistics which have shown these results. Registry trust is responsible to operate the register of judgments, order, fines for Wales and England. The reports issued by the trust have revealed that debt consolidation companies face fewer judgments with a combined lower value in compare the judgment value followed during third quarter of 2011.
Last year, the value of country court judgments undergone decreased by £43.1 million from £163 million of last year. It has stopped at just £119.9 million in third quarter of 2012 that clearly shows drop with 26.4%. The numbers of court judgments issued against firms have also declined. It goes down to 29,662 in three month period in compare of 36,876 in same period of 2011. It shows fall of 19.6%.
Registry trust chairman, Malcolm Hurlston told that decline in court judgments pointing towards healthier balance sheet. Further he added that apart from this it could also indicate towards a lower level of overall lending business. It may happen due to low level of debt consolidation loans, personal loans or any other type of borrowing approval from lenders. If that is the reason then these two could be combined together for remarkable considerations.
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