Friend left us in debt - CCJ awarded- can we sell it on?

hypnorm

Basically a so called friend of ours walked off with 5k after we helped him in a situation.
We took it to court and were awarded the CCJ for the amount plus costs for its over 6K now, two months ago.
So called friend hasn't paid a penny.. what do we do now as the money he owes us would help clear some of the debt he left us in.

Hubby said we could sell the debt on to a company and they would pay us the amount less a fee and collect the money thems selves. Does anyone know where we would start doing this or a company that offers it?

it doesnt help that we live so close to him either!

Any advice gratefull recieved.

Tixy

Did the defendant enter a defence? was the judgement a forthwith order (to pay the whole debt immediately?)
What have you done since the CCJ to try to get the debtor to pay?

Have you written to him since saying that if he does not pay you will take enforcement action? Have you considered the best way to enforce the debt? is he employed? might you want to try for an attachment of earnings? what about bailiffs etc?

hypnorm

He did attend coury with a defence but the judge caught him out lying. All we have had from the court is a General Form of Judgement or Order stating he owes blah amount, thats all we've had since the court hearing.
We haven't contacted him, although we know he has since got a married, and sold his car and got an old one, as far as we are aware he is self employed as he worked for my OH for a short while. we know he has a unit with all his work items, bike and scooters in.

He can be quite nasty, we have since found out and he lives within 2 miles of us, he doesnt seem to care. And not sure where we go from her as the CCJ seems to have been a waste of time and yet more money.

hypnorm

Hubby would like him to pay it all, but even if he did something monthly that would help!

Tixy

I'd say it was a waste of money if you don't follow it up. Just obtaining a CCJ isn't enough to get many debtors to pay.

I would start by writing a letter that say you have obtained a judgement and give the deatils of the judgement and debt, then something like 'I am writing to inform you that if I do not receive the money in full by X date then I will take steps to enforce the judgement which may add additional costs to the amount payable'. You might then want to list the ways in which you might enforce the debt.

This article suggests the different ways you can enforce a debt. http://www.guardian.co.uk/money/2010/nov/20/small-claims-court-enforce-judgment
and this one http://www.businesslink.gov.uk/bdotg/action/detail?itemId=1073791108&type=RESOURCES which has links to court leaflets.

You might also want to contact the court and see if they can advise on possible ways forward.

DarnIt_3

Baliffs and attachment of earnings. But in reality he could still avoid paying you. Just make his life difficult and hope he does something.. if you can...sell the debt!

hypnorm

if you know of any companies that might buy dept like this please point me to some links. we just feel like he is sat there laughing at us.

Tixy

If you sell the debt (not the CCJ) on to a debt collector you will literally get a few pence per pound for it. Once you have a CCJ you are almost certainly likely to end up better off if you go for an enforcement order.

If he is self-employed then an attachement of earnings might be out, so bailiffs (a warrant of execution) might be the better option for yourselves.

RAS

You say he is self employed

Do you know if he has any property? You mention bike and scooters, are these personal items or part of his work?