CCJ Mortgage Advice
If you fail to make a payment either for a credit card, loan
or to a utility company (such as gas, electricity or water)
then they are likely to take court action against you. You
would receive a court summons and be asked to attend court
to make arrangements as to how you intend to pay them back.
This is known as a County Court Judgement (CCJ), and recorded
on your credit history.
Each year there are around 700,000 county court judgements
(CCJs) made against individuals. Having CCJ's on your credit
history can seriously affect your chance of getting a standard
mortgage.
However you can avoid attending court by agreeing a settlement
with them privately. If you are in a position to pay the amount
in full then do so within one month otherwise the CCJ will
be registered with the Register of County Court Judgments
and credit reference agencies will note this on your file.
If you are unable to pay the amount in full straight away
but can do so at a later date, then you do so, you should
apply to the court for a Certificate of Satisfaction for £10.
The CCJ will remain on your file for 6 years but potential
lenders will be able to see that you have paid the debt.
The procedure for CCJ's will depend on how much you owe.
If it's less than £5,000, you will be allocated to the
small claims track. This will mean an informal hearing, the
court need not take evidence on oath, any cross examination
is likely to be limited and no solicitor's costs can be recovered.
The so-called fast track applies to claims that come under
£15,000 and where the trial is likely to last no longer
than a day. The amount of costs recoverable is limited.
To find out if a CCJ has been registered against you, contact
the Registry Trust.
The Registry Trust Limited
173-175 Cleveland Street
London
W1P 5PE
There is a fee of £4.50 for a postal search of the
register for each name and address searched.
Other sites with useful information about CCJs and adverse
credit generally are:
www.fsa.gov.uk
- Financial Services Authority
www.adviceguide.org.uk
- Advice Guide produced by Citizens Advice Bureau
www.nationaldebtline.co.uk
- National Debtline
www.clsdirect.org.uk
- Community Legal Service |
