Financial advisors

Mallowmarshmallow

Hello all,

I ahve just received two of the three credit files I have applied for on behalf of my husband.

They are confusing - I can tell things are really bad, but don't understand much of it.

Does anyone know anything about financial advisors - where can they be found? Would they be able to help me through the credit files and work out what to do? How much do they cost?

Also, my husband has a CCJ - how bad is one of these? What are the future implications in terms of borrowing / mortgages etc?

Many thanks

DarkConvict

If he is in debt trouble, you could phone and ask for advice from national debtline/cccs/payplan or CAB. The first 3 are offer free professional advice on debt.

As to the CCJ, they will make it more difficult to get credit. Either refused for credit or only offered sum prime deals i.e. higher rates of interest.
A 0% credit card application may fail but be told one at 26.7% is available.

Mallowmarshmallow

Thank you for your advice. Are the organizations you mentioned independent? We are trying to sort the debt out ourselves rather than through a payment scheme.

Could you tell me what a ccj means? The credit file is showing £700 odd so presumably this still needs to be paid?

DarkConvict

CCJ, this is a county court judgement. This is when a creditor (bank/debt collection agnecy) have taken you to court for money owed. They have won and you have to pay the debt either in full or £x per month.
If it does not show satisfied then it still needs to be paid, assuming you have not paid it already but not got a satisfaction certificate from the courts to give to the credit reference agencies.
CCJs have a large impact on your credit rating, until they fall off 6 years after originally placed.
Also CCJs prevent debts going statute barred, statute barred is where debts after 6 years (5 in scotland) are no longer enforceable in court if you have not paid or acknowledged them for a period of 6 years or more at any point (once statute barred, always statute barred), basically means you do not have to pay.

If you did not attend the hearing, you lose by default and must pay the full amount. If you were unaware of the hearing, i.e. paperwork went to a different address, you can have the CCJ set aside were basically it is redone with your attendance. Info -http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=12_how_to_set_aside_a_judgment_in_the_county_court

The above are all charities and work independently. They do not charge fees for advice or running things like DMP (Debt Management Plan)

Welshdebtor

DarkConvict wrote: »

CCJ, this is a county court judgement. This is when a creditor (bank/debt collection agnecy) have taken you to court for money owed. They have won and you have to pay the debt either in full or £x per month.
If it does not show satisfied then it still needs to be paid, assuming you have not paid it already but not got a satisfaction certificate from the courts to give to the credit reference agencies.
CCJs have a large impact on your credit rating, until they fall off 6 years after originally placed.
Also CCJs prevent debts going statute barred, statute barred is where debts after 6 years (5 in scotland) are no longer enforceable in court if you have not paid or acknowledged them for a period of 6 years or more at any point (once statute barred, always statute barred), basically means you do not have to pay.

If you did not attend the hearing, you lose by default and must pay the full amount. If you were unaware of the hearing, i.e. paperwork went to a different address, you can have the CCJ set aside were basically it is redone with your attendance

So DarkConvict to have a CCJ you have to have been summoned to court???