CCJ / Credit Report Question

Rickerty_2

I've searched this forum a lot but can't seem to find any help on this.

I have a CCJ for £450 which from January 2003. (I moved house and forgot to inform my store card) I was a student at the time so agreed to pay off a minimal amount; I've been paying £5 a month since then and have about £100 left.

I'm aware that from January it will be 6 years since I got the CCJ and I want to know whether it will disappear from my credit report? I'll obviously continue to pay it until it's satisfied but I'd like to know when and how I get rid of it?

Thanks in advance!

CCCS_Matthew

Hi there Rickerty,

After the 6 years has elapsed, the creditor can apply to to get the CCJ to appear on a year-to-year basis. So you may find that if it takes you 20 months to clear the debt, the CCJ could still appear on your credit file while you are paying off the balance.

As soon as the balance is cleared you would then need to apply through court for a "Certificate of Satisfaction" which you can then show to ther credit reference agency which should show the balance as satisfied, and to remove the CCJ at the end of that year.

Hope this helps,
Matthew.

GeorgeUK

It can vary for different credit reference agencies, but the CCJ will be removed from your credit file when completely satisfied. However, because only the last 6 years worth of data is shown on a credit report, the CCJ will cease to be shown on your report in either January or February, depending on when it gets updated.

After you have paid off the debt, this link may come in handy.
http://www.insolvencyhelpline.co.uk/legal_issues_explained/certificate_of_satisfaction.php

Rickerty_2

Brilliant. Thanks so much for clearing that up. Can't wait to be free of it!