COUNTY COURT JUDGEMENT CCJ MORTGAGE
If you are looking for a mortgage and have a County Court Judgement or CCJ against you then you might be concerned that a bad credit rating will make it difficult for you to get what you want.
How We Can Help With Bad Credit CCJ Mortgages
There are many reasons why people get CCJs and we understand that it could easily have been through no fault of your own. The good news is that our bokers have access to CCJ mortgages from specialist bad credit lenders who think the same way and who are prepared to look at each application on its merits rather than rely too heavily on historical issues.
Our brokers can arrange a mortgage for you through a specialist bad credit mortgage lender, who often deals with situations just like yours, and who will get the best terms possible for your particular circumstances. Give us a call and a broker will call you back immediately.
Their advice is free and you are under no obligation. They are independent and can therefore give you totally impartial advice on what really is best for you. Get in touch if you want a Bad Credit CCJ Mortgage or home loan.
What is a County Court Judgement?
Unfortunately it is possible for a county court judgement to have been made against you without you even knowing about it.
The claim will be that you owe them money and you have not paid them back.
The judgement passed will order you to pay back what you owe, or some other amount decided by the court, and you will have 30 days to do so. If you pay during this time there will be no impact on your credit record.
If you pay after the 30-day period has elapsed the judgement will be entered in to the Register of Judgements by the Registry Trust and your CCJ will remain there for six years.
This information is a public record, which means anyone can look at it. Unfortunately this also means that it will have a detrimental effect on your credit record because lenders and the companies that help them check your record will have access to it.
Having a CCJ on your record will mean standard lenders will turn you down when you apply for any form of credit including loans and mortgages.
When you pay off the debt you should apply to the court for a Certificate of Satisfaction and although the judgement will stay on the register for the rest of the six years the Registry should automatically inform the credit checking agencies.
It would make sense however to follow this up yourself and make sure your credit record is updated correctly so that the county court judgement does not continue to affect your ability to get credit.
Removing a CCJ from your Credit Report as soon as you can will ensure that your Credit Score and therefore your Credit Rating are both improved much quicker.
What is an Administration Order?
If you have two or more judgements against you can apply to the court to issue an administration order whereby the court will take a payment from you each month and share it between your creditors.
The court will charge you an administration fee to do this but while the order is in place your creditors will not be able to take any type of action against you.
What if I disagree with a Judgement
Unfortunately it is possible for a court judgement to have been made against you without you even knowing about it.
If you apply for credit and find you are rejected due to a CCJ, but you genuinely know nothing about or have a genuine reason to disagree with it, then you can apply to the court and ask them not to apply it straight away. However do not waste the court’s time as you may be fined or even sent to prison.
If the court agrees the judgement will be set aside giving you another chance to reply to the claim and more importantly the judgement will be removed from the register.
This means your credit record will no longer have the CCJ on it either.
Some companies who advertise a service to fix credit problems may claim that they can get a judgement taken off the register. Do not use them as they often charge a large fee and may not be able to do what they claim.
If a real mistake has been made and the judgement on the Register is incorrect and should not be there then you can apply to the court for a Certificate of Cancellation, which will completely remove the judgement from the register and should automatically update your credit record. You should of course check your record to make sure that it this has been done.
What is a Default Notice?
A formal default notice is the first stage of the process for any creditor who wishes to take legal action against you for non-payment.
Default notices may get on to your credit record automatically as soon as you fail to make a payment or a lender may give you time to sort out the problem.
Either way once they are on your record they are going to affect your ability to get credit, so resolve the issue with your lender and get them removed as soon as you can.
