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CCJ - pay or not to pay
preciousb
Posts: 287 Forumite
Hi there,
I know this may seem like a silly thing to ask but here goes
I have a CCJ from August 2008 that i have not paid yet. I have come into enough money to pay that debt. I also have other debts as well.
Is a CCJ more of a priority payment?
It started on 560£ and is now on £300. If i pay it, how does it affect my credit file?
Will it look favourable or should i keep paying it normally and pay one of my other debts off?
I know this may seem like a silly thing to ask but here goes
I have a CCJ from August 2008 that i have not paid yet. I have come into enough money to pay that debt. I also have other debts as well.
Is a CCJ more of a priority payment?
It started on 560£ and is now on £300. If i pay it, how does it affect my credit file?
Will it look favourable or should i keep paying it normally and pay one of my other debts off?
0
Comments
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Once paid, you can get a letter to send to the credit reference agencies (your 3 credit files) to update the CCJ to satisfied.
I don't know if a CCJ is consider priority, but given if you fail to pay they can use bailiffs I would assume so.
If you already have an agreement to pay the CCJ and are keeping to it and there is no interest been charged, i would not bother paying the CCJ off now, but concentrate on another debt with the highest APR to save you money in interest.
Do you know about snowballing - http://www.whatsthecost.com/snowball.aspx
Make min payments to all credit, except the one with highest rate of interest?Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0 -
Hi thanks, all my debts are on a dmp so no interest is being charged0
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If you have a large lump sum, consider full and final offers at 20-30%Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0 -
Are you 100% certain of that?all my debts are on a dmp so no interest is being charged
DMP’s are not excluded from interest being added, it’s down to each individual creditor.Click here for Martins (MSE) advice on who to contact with Debt Issues - YOU HAVE NO REASON TO USE A FEE PAYING DEBT MANAGEMENT COMPANY- THEY CANNOT DO ANYMORE FOR YOU THAN THOSE LISTED IN MY LINK ABOVE.
All information given by myself is offered informally and without prejudice - if in doubt seek help from a qualified and insured professional0 -
Hi yes its right. My interest has been frozen on all accounts.
I have about 900 pounds in total.
My debt is approx 4500/5000
Should i save up a bit more and then offer full and final settlements or offer them now?0 -
Nudge it upto £1000, and do an offer of 20%(£1000) on the £5000 debt
http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offersAlthough no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0
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