1. Home
  2. Uncategorised
  3. County court judgement (CCJ)

County court judgement (CCJ)

A County Court Judgement (CCJ) is an order that is against you if you owe someone money and you are now faced with a court order to pay it back. Having a County Court Judgement (CCJ) can affect your credit rating. This means that it may be difficult for you to get credit from a bank if needed and if you are seeking to borrow money. The County Court Judgement (CCJ) will then appear on your credit report as it is a legal requirement. This information is provided by the credit reference agency which provide your information to a company if you want to borrow money from them. once they have received your information, companies are then able to make a decision if they want to lend you money or not. Moreover, receiving a County Court Judgement (CCJ) means that it will be visible on the Register of Judgements, Orders and Fines for 6 years. However, if you do pay the full amount that you owe from the County Court Judgement (CCJ), then you will have your judgement removed from the register and it will not affect your credit rating. However, if you pay after the one-month initial period of the County Court Judgement (CCJ) it will still be on your record however it will be labelled as ‘satisfied’. This means that it will still remain for 6 years, but companies will be able to see that you have paid the amount that you owed. It will also be important to show proof that you have paid within one month and after one month so that you are able to provide proof to companies when applying for money borrowing or taking out credit. As you can see it is very important to comply with the steps provided when receiving a County Court Judgement (CCJ) as a County Court Judgement (CCJ) can affect your credit rating and can affect credits and loans you may want to take out in the future. If possible, when issued with a County Court Judgement (CCJ) it is encouraged that you try to pay it off within the one month initial period. If you cannot pay the County Court Judgement (CCJ) within one month, paying it immediately after will still affect your credit rating however you will still be labelled as ‘satisfied’ which means that it may not affect you when taking out loans and credit. This shows how important it is to pay on time having a County Court Judgement (CCJ) and how you are able to avoid a drastic impact on your credit rating.

Next Post
County court judgement (CCJ)
Previous Post
County court judgement (CCJ)