2018 was a challenging year for consumers with the value of bad debts registered against them increasing significantly on the previous year. This is a trend that will need to be monitored as it will likely have an impact on credit control and cash collection for the year ahead.

While the number of judgments registered against both companies and consumers last year was down by 6% on 2017's total (2,525 v 2,695) the value of bad debts against consumers increased substantially.

€258.8m (up 39% on 2017's total - €185.8m) in bad debts were registered against consumers in 1,949 separate judgments - an average of almost €132,792 per judgment.

A further €15.2m bad debts were registered against companies in 2018 (down 19% on the previous year - €18.8m) in 576 separate judgments (€26,447 per judgment).

These figures give an indication of the impact that a poor paying corporate or consumer client can have on the cash flow of a company, and highlight the need for continued risk assessment and client monitoring.

Vision-net lets you carry out risk assessment in a low cost and highly effective way, to minimise your exposure along the full credit life cycle, using the very latest data, to ensure you make the most informed credit and risk decisions.

Why not check a client on Vision-net.ie today. All of our accounts allow you to search judgments and analyse bad debt histories on consumers and corporate clients, as well as proactively alerting you if a new judgment is registered against someone you have an interest in - free of charge.

Vision-net also gives you access to the most comprehensive background checking tool on the market on consumers with our CCI report. This simple search compiles information, taken from 11 key data streams, into one user-friendly credit profile of directors or individuals.

To access reports on any business or individual you deal with, simply login to Vision-net.ie today or call us on Tel: +353 1 664 1111.