Oh, that is a serious concern and only the most aggressive solutions can help in such situations. Also, it is necessary to take a timely decision as delay can make this worst condition even more destructive. CCJ means the County Court Judgment stays in your financial records for 6 long years. Sitting idle this long time, doing nothing due to hopelessness is not a good idea. Yes, the circumstances are certainly pathetic but ‘what to do?’ will be a better question to ask then saying there is nothing to do.
As the case of CCJ is not an easy thing to tackle, you cannot expect big miracles at the very starting of your revival journey. Having it in your credit records can be destructive. It prevents not only borrowers to consider your application but also the employers from hiring you. This means, your personal, financial as well as career life, all come in threat.
Some ways below can help you get back the lost peace if not completely then at least up to some extent. Have a look –
THE MOST INSTANT WAY – Pay CCJ within a month
A county court judgement can appear on your financial records in a couple of days after the judgement. But if you act quickly and pay the debt in full within a month, the details of court judgement will be removed from the records of Register of Orders Judgments and Fines. If you do this and information is sent to the court, your financial or credit records will be back to normalcy as if no judgement mark was there.
The responsibility to send the information to the court about your payments is of the creditor. In the absence of this information, CCJ will not be removed from the public register. However, you can inform the court on your own if the creditor does not do so. For that, you need to have the proof of payments and a small amount of fee is also there.
Wait for 6 years – If you can
As you know that CCJ remains in your credit records for six years, you can wait during this duration. After 6 years, it will be automatically removed from your file whether you pay it or not. The most important decision in this concern is yours. If the CCJ has been in your financial records for some time, it is advisable to wait. If it is recent, you need to decide if you can stay with the bad credit rating or you want to get rid of it NOW.
Take specialised loans that treat CCJ conditions – Quite Effective
This is perhaps not known to you. The new age lending companies, which have specialised loan products, serve to certain purposes. CCJ is one of them. They not only provide funds to the borrowers but also enhance their loans with the features that bring improvement in their financial situations.
Still not getting it? Then loans for CCJs and bad credit by direct lenders with no guarantor can help you understand this. These are the short-term loans that are customised according to the affordability of the applicant. The instalments are kept small, the loan amount is also small. However, the interest rates are high as the lender too has to think of the risk level.
These loans have no obligation of guarantor or collateral but to calm down the rates, you can present any of these two. Anyways, the prime idea of these loans is that you borrow funds, repay on time and with every timely repayment the credit rating improves. By the end of the loan tenure, your credit score performance improves due to a good boost in the credit rating.
All the above ways work in the practical manner and are result-oriented. You know what, CCJ is like cancer, if you treat it at the early stages, you can have it removed. If you delay or act careless, it is sure to perform its destructive role. More cautious you stay; more easy it becomes to get the escape window. It may not be easy to come out of the CCJ situation but with the right and precise ways things can certainly change for good.