These drops point to consumers and businesses slowly navigating their way out of heavy burden of debt.
The number of bad debt judgments against Irish consumers and businesses has dropped by almost 40% this year compared to 2010.
5,465 judgments were awarded against individuals and companies during the first 9 months of 2010 - these had a value of just over E704m. During the same period this year those figures fell to 3,338 judgment awards (down 39%) worth E263m (down 63%).
The largest number of judgments in both years were awarded to the Revenue Commissioner however, this year's figure was down 12% on 2010's (1,376 v 1,562).
This drop in judgment awards could be down to a number of factors. One possible explanation could be that trading in the recession years has caused Irish companies to be more prudent with their resources and to make sounder decisions based on economic advice. This would include leasing instead of buying, seeking payment guarantees and performing thorough risk and credit checks on companies.
Insolvency Notices
2,206
The number of companies that have collapsed this year. This figure is up 25% compared to last year
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PREDICTIVE CREDIT REPORTS
Our Credit Reports are predicting over 80% of insolvencies at up to 6 months in advance.
Appointments
LIQUIDATORS
- 33 Companies
E8 (Notice Of Appointment Of Receiver)
- 16 Companies
EXAMINERS
- 4 Companies
Closures
186
The number of companies that have closed this week.
New Startups
New Companies
- 286 Companies
New Businesses
- 379 Businesses
Important Changes
Changed Status
- 1153 Companies
HIGH COURT NOTICES
- 4 Companies
Strike off & Struck off Companies
Strike Off
- 186 Companies
Struck Off
- 100 Companies
