Save Yourself by Getting CCJ Loans with No Guarantor

There are plenty of people, who prefer to apply for a loan when going through a rough patch in their life. Well, why not! They get the opportunity to get out of this traumatising phase and the liberty to pay off the loan in future when the situation is back to the normal. However, sometimes people are not able to pay back the loan either they are still stuck in the situation or just ignore it.

Whatever the reasons may be, it’s the sole responsibility of a borrower to complete their debt on time. And if you have borrowed money but has not returned yet, then better be prepared as the lender can file a CCJ (County Court Judgement) against you. In which, you will have to be present in the court where the judge will be seeing the matter further. However, any lender cannot just file a CCJ directly. They will have to first send a legal notice to you regarding the debt issue and after that, you need to respond back.

You should know that CCJ is a serious matter and if found guilty, you might end up losing your collateral or even your home. This is why it is important to take immediate steps if a County Court Judgement has been filed against you. Further, this will also drastically affect your credit profile and you will find it very difficult to get a loan in the future. However, if you come across a financial barrier while you are still on your CCJ period, getting a loan could be really a nerve-wracking task. Fortunately, there is still hope and you can get CCJ loans with no guarantor from directlenders.
Now let us see dig further about this.

How people will know that I am on CCJ?

You might think for a moment how other lenders will get to know that I am on a CCJ period. Well, if a CCJ has been filed against you, a report will be added to the public database which is known as Register of Judgements, orders and fines. Therefore, if your CCJ issue has been recorded on this database, anyone can check the public register just by paying a small amount of money. Generally, County Court Judgement is valid up to six years so getting a loan during this time is going to be something nearly impossible. However, there are two expectations where your CCJ issue will not be available on the public database and that are: 
  • Firstly, if you have paid the entire amount within the 30 days of the CCJ period, then it will not be recorded.
  •  Secondly, if you think that the CCJ filed against you is inappropriate and you are able to prove this to the court, then your CCJ case will be withdrawn immediately. 

How a CCJ can affect my credit profile?

Basically, if the issue of your CCJ has been recorded on the public database, it will automatically be added on your credit profile. However, if your County Court Judgement has not been recorded on the register, then it won’t be appearing on your credit profile. Still, all your defaults will be mentioned there which also leaves a bad impression in front of any lender. It is important for you to know the fact that a CCJ stays on the defaulter’s credit profile for up to 6 years. And, if somehow you are able to pay the debt in the starting of the first two years, it will still be there on your profile. Therefore, any lender will easily be able to see this when you apply for some credit and the presence of the CCJ will make it difficult for you to get the approval.

Is there any way to get rid of CCJ from my credit report?

Yes, there are certain ways by which you can remove the CCJ tag from your credit report. But, this can be done in the following cases: 
  •  You somehow managed to pay off the entire debt within 30 days of the CCJ period.
  • If it has been above 6 years since the CCJ was filed against you.
  •  You proved the court that the allegation against you is wrong and the CCJ was withdrawn from the court.
  •  If any insurance company is liable for the payment of the debt. 

How can I improve my credit score that has hit rock bottom?

When you are all done with your CCJ and its due debt, your credit profile will be having a “satisfied” tag. Well, this is something better than having an outstanding judgement, but it will be quite difficult in getting the Seo  approval of a loan. Although, you don’t need to worry much as the black clouds are cleared and your credit profile will start improving as your CCJ issue ages. After this, there are few things that you can do to enhance your credit score, but be cautious and take every step carefully. Here are the things that you can do: 

  • Firstly, you need to register for the electoral roll of your current address. This will add credibility to your credit profile.
  •  Make sure that you don’t apply for loans frequently (Once in 6 months) after that. As doing this can lower your credit score significantly.
  •  Keep checking your credit profile from time to time to check where you are standing. 
This was pretty much everything related to County Court Judgement. Hopefully, you must have learned all the aspects of CCJ and the steps that you can take to put your poor performing credit profile back on track.

Descriptions: Having a CCJ in your credit profile can be really problematic in getting loans. However, there is still a way where you can get CCJ loans with no guarantor from direct lenders.

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