CCJ - worth getting satisfied?

danouk

Hi all - long time lurker, first time poster.

I'm after a quick bit of advice. I have a CCJ showing on my Equifax credit report, and I assume it's on Experian too (have to wait 4 days for Experian for no apparent reason...). The CCJ is dated 23/07/07, for the princely sum of £337.

It's a fair cop, I'm not disputing the CCJ. It was not related to a credit agreement, but is a utility bill that I genuinely forgot to update when we moved to our current address in September 2004. I'm under no illusions that the CCJ can or should be removed - I understand that it's there until July 2013.

For information, there are 2 credit cards showing on the Equifax report, credit limits 9450 (220ish balance) and 6500 (60ish balance) respectively. Outstanding balances will be paid when due, as they have been since November when I cleared the last of my credit card balances. There's also 2 settled accounts (1 store card, one unsecured personal loan), and an Orange mobile contract. For some reason my current account with HSBC which I've had since forever doesn't show, neither does my (unused) 750 overdraft with HSBC. No defaults or other problems - green 0's all the way.


So my question is... Is it worth paying the £15 to have the CCJ marked as satisfied? Is a potential creditor going to make a distinction between a Satisfied CCJ and an unsatisfied CCJ?

I have no need of additional credit at the mo (I have 16k available on cards, that's about 40% of my income and is plenty, thanks), but you never know what might be required in the future.

I'm also a little concerned about the effect on the Mrs. She recently (January) applied and was accepted by First Direct with a 500 overdraft, and has a personal loan with Santander (blech) which will be paid in May 2011. That's all the credit she has (that I know of...).

Will my CCJ affect her chances of getting a loan before the CCJ drops off my report in July 2013? She is showing as linked to me on my Equifax report.

Sorry for the essay, but you never know what information might be relevant.

Any advice welcomed!

inkslinger

Its always worth doing, some companies will flatly refuse to deal with you if its not marked satisfied, then I would ask for a note to be placed on your file explaining it was an oversite on your behalf but your corrected it as soon as you were aware.

A lot of the time they are ignored, but not always. If you apply for something Id also suggest you apply in person where possible with a company you already have a sound active footing with as your more likely to get credit if you have a responsible history with that institution. Then be up front, explain the situation and hope for the best. Not great but its about the best you can do.

As for affecting the other half, she may find her rates on application are worse or a few CC's may reduce her limit. Your CCJ isnt for a huge amount though and that may help.

Iv limited knowledge, but much of this is from personal experience.

danouk

Hey inkslinger - thanks for reading and replying.

I've actually found that my credit limits have gone up on both my cards since the CCJ, but so have my APRs. Barclaycard upped my APR to 27.9 recently, good job I'm not carrying a balance any more!

I think I will get it marked as satisfied as soon as I can face chasing solicitors, courts and E-ON...

Anyone else have any advice or info on this?

Thanks

inkslinger

Have you thought about trying for a set aside? Its not easy, and its harder if its been a while since the CCJ but it is possible, fee is £75 for the hearing, and you would have to demonstrate that you were unaware, and you paid straight away. Consumer Forum is a god place for advice on this.

I cant say Im surprised your APR went up, though do bear in mind its went up for people with good financial standing as banks attempt to claw back what they have lost in the credit crunch, CCJ's are the lepers of Credit Reports. Best thing you can do is make the damage as little as possible

Good luck

M

Experian_company_representative

From a credit scoring point of view it's is definitely sensible to get the CCJ marked as satisfied. The court simply needs proof from the creditor, then it will update its records, which will ensure that your credit reports are updated too. You don't need to pay for a certificate of satisfaction from the court unless you want one for your personal records.

James

BugsyBrowne

Experian_company_representative wrote: »

From a credit scoring point of view it's is definitely sensible to get the CCJ marked as satisfied. The court simply needs proof from the creditor, then it will update its records, which will ensure that your credit reports are updated too. You don't need to pay for a certificate of satisfaction from the court unless you want one for your personal records.

James

You should of also told him he would have to be a complete dimwit if he took any notice of an experian credit score.

danouk

No fear, I've not paid for a score. £2 stat reports only!

Thanks all for your input!

danouk

inkslinger wrote: »

Have you thought about trying for a set aside? Its not easy, and its harder if its been a while since the CCJ but it is possible, fee is £75 for the hearing, and you would have to demonstrate that you were unaware, and you paid straight away. Consumer Forum is a god place for advice on this.

An interesting idea, not sure if I could stand up in a court with a straight face and try to argue this. I didn't deliberately try to bilk E-ON, but I should have paid more attention to notifying all concerned that I had moved.

I dunno, anyone got any experience with doing this in similar situations?

You've all definitely made up my mind that I should get it marked as satisfied though - as soon as I can find the time to do all the chasing which will inevitably be required!

inkslinger

Only you can answer that one sir, Im going through a similar thing at the mo, I wasnt aware of the CCJ until two years later and it was deliberately hidden from me by my ex. All things considered I believe Im right to try to go for set aside.

If you made a genuine mistake, did not receive a DN, had your self on the voting register straight away as soon as you moved (ie clearly were not hiding in anyway), financially could and woud have payed it had you known (proven with bank statements), and you feel it was a genuine mistake ( you informed other creditors you were moving, this one you just forgot?) and not a deliberate attempt to not pay (not likely for such a small amount) then Id say why not? the worst that can happen is the DJ rejects it.

You may get rejected out right,
You may get to a hearing and be rejected or.......
You may get to a hearing and get it removed.

Hope its of some help. How long before it drops of?

danouk

3 years til it goes - July 2013. First job is to get it marked as satisfied I guess.

Hope your situation gets resolved to your satisfaction - thanks for all your advice on this.

inkslinger

Your absolutely welcome, I hope yours does too!