Home & Garden3 mins ago
Writing-off CCJs
If an outstanding debt, against which a CCJ has been issued , is paid off within a few month of the CCJ being issued, is there anything that can be done to correct the credit situation recorded by Experiean and such-like?
(Not sure whether this should be posted here or Business and Finance)
(Not sure whether this should be posted here or Business and Finance)
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For more on marking an answer as the "Best Answer", please visit our FAQ.the certifcate says that the debt has been paid so it is not as bad as a CCJ that has not been paid so it's a sort of lesser black mark as it where. The basic issue is that even if it's paid up, the mind set of the person is still one that a lender would be wary of, ie only paying up when forced to.
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You need to obtain a letter from the other party to confirm you have paid them in full. You can then apply to the court for a Certificate of Satisfaction, which they will issue for a small fee (currently �15).
The Credit Reference Agencies' files will automatically be updated within a month or two of the certificate being issued, or you can contact them directly if you want to speed it up a little.
Their files will be updated to show the CCJ as satisfied. It will remain on your credit record for six years from the date of satisfaction, but this is better than it continuing to show as unsatisfied.
As an aside, had you paid in full within 28 days of the judgment, you would have been entitled to have the CCJ removed from your credit file. Rather than a Certificate of Satisfaction, you would have been issued with a Certificate of Cancellation. This would have removed any trace of the judgment from your credit file.
The Credit Reference Agencies' files will automatically be updated within a month or two of the certificate being issued, or you can contact them directly if you want to speed it up a little.
Their files will be updated to show the CCJ as satisfied. It will remain on your credit record for six years from the date of satisfaction, but this is better than it continuing to show as unsatisfied.
As an aside, had you paid in full within 28 days of the judgment, you would have been entitled to have the CCJ removed from your credit file. Rather than a Certificate of Satisfaction, you would have been issued with a Certificate of Cancellation. This would have removed any trace of the judgment from your credit file.
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