Debt judgments down 25pc since 2011 – Vision-net

However, despite the fall in the number of judgments, there was an 11.6pc rise in the average value of judgments in 2013 (€72,715) when compared with 2012 (€65,149) and a 31pc rise when compared with 2011 (€55,411).

Vision-net’s figures show that 1,754 commercial judgments were awarded in 2013, an 11.4pc fall on 2012 and 38.5pc fall on 2011.

The total amount of judgments awarded against creditors was €71.5m. Of these, 577 judgments worth €22.7m were awarded to the local authorities.

A total of 3,728 consumer judgments were awarded in 2013, a 4.5pc fall on 2012 and a 16.3pc fall on 2011. The total amount of such judgments was worth €327m.

The Revenue Commissioner and credit unions were awarded 2,230 consumer judgments between them, or 59.8pc of all consumer judgment awards.

“The increase in the value of debts reflects the high level and legacy of debts that businesses and consumers have been battling with in recent years,” said Christine Cullen, managing director of Vision-net.

“However, the pattern of falling numbers of court judgments for unpaid debts over the past two years is welcome. The amount of individuals and companies now finding themselves before the courts with unpaid debts has fallen significantly, up to 25pc overall. Looking at commercial judgments alone, the data is even better with these judgments falling by almost 40pc since 2011.

“However, the reasons why this is occurring are much more complex. Today’s data suggests that non-judicial-based remedies such as debt re-structuring and settlements, write-downs or greater forbearance by banks and creditors may now be having a greater impact.”