CCJ Payments & income improvement

Mrs_Arcanum

Got a CCJ last November and a fixed monthly amount it was agreed I could afford to pay. Never missed a payment either before or after.

Question is, should my income improve would this amount go up along with all those to my other creditors or would it remain as per the court judgement? Or alternatively should my situation worsen would this amount stay the same with other creditors losing?

Sparklyfairy

No, I believe as the amount was set by the courts - that amount should stay. I would, perhaps, set up an account & put that "extra" money there to start a fund for a full & final settlement on the account & have the CCJ marked as "satisfied" to help clear your credit rating.

If your financial situation worsens & you are struggling with your ccj payments, you can apply to the courts to alter them. I'm unsure what the form is called, but if you take a look here it will help you should you need this info. Hth, SF

Tixy

If your income increases you could choose to pay more - but you don't have to.
If the creditor felt you could now afford to pay more they could ask for a court redetermination but they'd have to know about the improvement in your circumstances and it would need to be reasonably high to make it worth their while - eg they are not going to do it to increase your repayment by £20 a month, but if you have a massive debt that you are paying £1 a month to under the current CCJ then they may.

If your situation got significantly worse you could apply for a redetermination or choose to keep it as is and reduce payments to others.