Cpcmcredit Blog

There is an assumption that once a CCJ has been “satisfied” then thats the end of the matter and it will disappear from records. Not true

Two conversations during the last week have illustrated this point and why it’s essential to be taking good advice rather than jumping to conclusions.

Firstly i’ve been referred to a client who is under heavy pressure from a business lender who appear to be determined to impose a County Court Judgment rather than negotiate a means of settlement. Unnecessary and I do know that word is getting around that this is a lender to avoid but the key here is that the client has rightly taken the view that coming to an arrangement and avoiding a CCJ is vital for his future.

Secondly is a contact who has fought a lender over a sum due where frankly there was no prospect of anything other than defeat. Costs would have been incurred and rather than come to a sensible arrangement, a CCJ (for a substantial amount) had been recorded. This has now been “satisfied” with full settlement but is that the end of the issue?

No.

CCJs, even when satisfied, remain on record for six years. Of course the counter argument is that being satisfied they are irrelevant but nothing could be further from the truth. Lenders know that this is a record of someone who fought to extrapolate themselves from a legal commitment and lost.

What does that mean?

No credit. Simply put, no lender will touch such a prospect and frankly who can blame them?

• A footnote to this would be that the value of the CCJ is relevant. Small items can be overlooked but anything that runs into the thousands will certainly be overlooked