Firms that have been handed down a County Court Judgment should be seen as a red flag, it has been suggested. Thanks to the internet, it is now possible – for a small fee – to check the CCJ records of any business in England or Wales, as part of your standard credit control backgroundRead More
Firms that have been handed down a County Court Judgment should be seen as a red flag, it has been suggested.
Thanks to the internet, it is now possible – for a small fee – to check the CCJ records of any business in England or Wales, as part of your standard credit control background checks before deciding whether to work with them.
Malcolm Hurlston CBE, chairman of public records charity the Registry Trust, said: “It is a unique benefit for people to be able to check the debt record of any business or person with which they may be transacting.
“Think twice before transacting if there is negative information on the judgment record.”
At present – and over the medium term – the total number of judgments against businesses in England and Wales has been on the decrease.
In the first quarter of 2015, the figures fell for the sixth year in a row, with a total of 26,195 CCJs – down by 10% year on year and a vast improvement since the ‘crisis’ quarter when 71,867 CCJs were handed down in Q1 2009.
Together, they were worth £87.5 million, a 17% year-on-year improvement and, again, a substantially better picture than the £209.7 million of CCJs enforced in Q1 2008.
Just 30 High Court Judgments were made against businesses in Q1 2015, with a 61% decline in value to just £16.8 million.
Mr Hurlston said: “Business in England and Wales is on an upward trend with many fewer enterprises getting into difficulty.
“There would appear now to be scope for a more positive approach towards borrowing.”
If you would like to talk to a member of our team please call 0808 252 0149.