Stop a County Court Judgement from Ruining Your Finances
A CCJ, or county court judgment, is a judgment that is obtained against you in the event that you’re not able to meet the payments you agreed to on a loan. Typically, it is one of the last measures that a creditor will take, usually opting to contact you multiple times before they take you to court. However, if you are hit with a CCJ, it can have a profound impact on your financial future. Here, we’re going to look at how CCJs affect you, and what you can do about them.
How CCJs can affect you
If you are hit with a CCJ, it’s immediately a heavy mark on your credit report. It’s going to stay there for six years unless you can remove it in advance. CCJs are not good for your credit file and will appear to any lender you apply to. It’s still possible to get a mortgage with one, but it can certainly affect how much they are willing to lend you and with what terms. The higher the number of CCJs you have against you, and the more recent they are, the more difficult they will make it to borrow.
It goes beyond loans alone
CCJs can do more than affect your ability to apply to lenders. There are others who may carry out credit checks and, depending on how they run their business, might reject you based on any CCJs you have on file. This includes landlords, who might be less willing to take you on as a tenant, as well as employers. In some industries, such as parts of the finance industry, employers cannot hire people with a CCJ on their name, even if they want to.
How to stop a CCJ
If you want to avoid the six-year-long negative mark on your credit report, it is possible to stop a CCJ once it has been made. In particular, you need to pay off the outstanding debt, the interest, and the court fees within 30 days of the 
CCJ being filed. Depending on the size of the debt, this may be possible, even if you have to sell assets to do it. This will mean the CCJ is satisfied and, while it will leave a lingering mark on your credit report, it’s a much lesser one.
Avoiding CCJs
Of course, doing what you can to avoid a CCJ in the first place is a much better strategy than trying to stop that ball from rolling once it's already underway. In order to avoid debt, budgeting is crucial. Get a good idea of what your finances are and how much you’re truly able to pay out each month before you take on any debts. If you do start to fall behind, talk to your creditor about it as soon as possible. In most cases, they will be more willing to work out other arrangements, rather than be forced to take you to court.
CCJs are serious and, if not taken care of quickly, they will remain on your credit record for years. With the tips above, hopefully, you can get them under control before they impact you too much.