CCJ Meaning and
Definition
-
A County Court Judgment (CCJ) is a legal ruling issued by a county court in the United Kingdom. It is a type of court order that indicates a person or business's failure to repay a debt owed to another party. A CCJ is usually applied for by a creditor who has been unable to obtain payment despite numerous attempts, and the case is brought before a county court judge. This judgment can be requested for various types of debt, such as outstanding loans, credit card debts, or unpaid bills.
Once a CCJ is issued, it becomes a part of the individual's or company's credit record and can significantly impact their creditworthiness. It creates a public record of the judgment, which can be viewed by financial institutions, potential lenders, or other interested parties. A CCJ can affect a person's ability to obtain credit in the future, as it demonstrates a past default on payment obligations.
The CCJ also establishes that the debtor is legally obligated to pay off the outstanding debt. However, it does provide an opportunity for the debtor to negotiate and agree upon a repayment plan. If the CCJ is paid within a month of the judgment, it can be removed from the credit record, thus minimizing its long-term effects on creditworthiness. However, if left unpaid or unresolved after this initial period, a CCJ can remain on the credit file for up to six years, making it more challenging to obtain credit during this time.
Common Misspellings for CCJ
Infographic
Add the infographic to your website:
