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Dealing with CCJs

What is a CCJ?

A County Court Judgment (CCJ) is a form of legal action that a creditor can take against a borrower who falls into arrears and makes no arrangement to repay the debt. A creditor will apply to the court for a CCJ as a last resort to recover money that it is owed.

What happens next?

If a CCJ is registered against you a County Court Claim Form will be sent to you. This form is for you to recognise the amount of money you owe the creditor. You can fill out information about your financial situation and make an offer of a monthly payment you can afford to meet in order to repay the debt.

However, if the creditor has requested you repay the full amount, you can fill in a N245 form - available to download online or available from the court - to change the order to an affordable monthly payment. This form has a fee of £30, but it can be waived if you are on a low income.

Once you have returned the form, the court will pass it on to the creditor, and they will choose whether to accept the offer. If it is accepted the order will be made for you to pay the monthly amount you specified. If the creditor rejects the offer the court will take a look at your financial situation and set an amount that it thinks you will be able to repay.

Will it affect my credit rating?

In short, yes. A CCJ will be registered on your credit file and stay there for up to six years. If you repay the judgment before the six years is up you can apply for a Certificate of Satisfaction, which costs £10 in court fees and is registered on your credit file.

To stop a CCJ from appearing on your credit file you must repay the full amount that the creditor demands within one month.

What should I do if a CCJ is registered against me?

If you are subject to county court action then it is important that you take debt advice as soon as possible to see if you can satisfy the judgment in the crucial first month, or try and set out a repayment arrangement that you can afford to follow.

To find out more about how Atlantic Financial Management can help you with your CCJ, contact us or call 0845 0 30 30 30