certifcate of satisfaction

martininlemonade

Can anyone tell me the purpose of a certificate of satisfaction?
I paid my debt within the 30days plus the extra £15 which the court told me would clear the ccj from my credit file , she even said on the phone 'i am looking at your file now and its clear' however I am told that its not an can clearly be seen and that a certificate of satisfaction is usless
Am beginning to wonder whats the point.

Any help Please?

DarkConvict

I believe the certificate is only used to marked a CCJ as satisfied.

However, if paid within 30 days of the hearing it shouldn't be on your credit file anyway so you shouldnt need a certificate as it should never be added to begin with.

martininlemonade

I checked on the credit expert site and thew ofeding item shows as a DEFAULT but says satisfied
This is really annoying to me as it said this before I paid £15.00 for the certificate which now seems like a useless piece of paper which cost me money at a time when I am trying to save money.

I have asked them to remove it but to no avail, I cant explain how depressing this whole situation is to me.
I just feellike am going round in circles.

DarkConvict

Default and CCJ are different things.

A Default is there to show you defaulted on a financial agreement. i.e. credit card payments, monthly payment on phone contract etc. A default is placed by a company. For a default to be valid they must send you a default notice first warning you, and giving you time to pay the balance. If you do not the agreement is considered defaulted. At which point they can if they wish apply of a CCJ at any point whilst the debt is outstanding.
Defaults should also be placed on your file within 6 months of the date you defaults, generally the last contractual payment (min payment for credit cards) you made on an account.

A CCJ, is a court order and is placed by the court. A CCJ can be for any debt, such as failure to pay a builder for work undertaken. In this case there is no default as it was not a financial agreement just a contractual one. If a CCJ is paid within 28 days it will not show on your file.

Defaults do damage and push you into subprime lending category, although after 3 years it has less of an affect, you have to wait a full 6 years from the date it was placed for your credit rating to really improve.
CCJ do alot more harm to your credit worthiness than defaults.

You can ask lenders to remove defaults but if it was lawfully applied they have no obligation to do so, and acts as a warning marker to other creditors the agreement was defaulted.