A County Court Judgment (CCJ) is a legal decision by the County Court, which is made when you fail to pay the creditors that you owe money to. It is essentially a black mark on your credit file, making it difficult for you to obtain any further credit for at least 6 years.
If you clear the debt within 28 days you can apply to have the CCJ removed from your credit file. If the debt is repaid any time after the 28 days it will be marked as ‘Satisfied’ on your credit file, however this will still have a negative impact on your borrowing.
If you have recently received a County Court Claim Form the advice is not to ignore it but to act upon it immediately. Ignoring the situation will only worsen the problem. This often involves filling in an Income and Expenditure Form and making an offer of payment.
If you are are unable to offer payment and are suffering with other debts speak to one of our professional debt advisors who can help you with solutions to your debt problems.
If you have found yourself struggling with debt, the advice is not to panic but to address the situation as soon as possible. There are many solutions to help you manage your debts, we at DFH can help you to determine the best solution for your circumstances and help you regain control of your finances.
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