Full and final settlement on CCJ

Senior_Paper_Monitor

Here's a novelty - asking instead of answering.

One for Mr Ham I think.

CCJ issued - client has subsequently negotiated partial payment settlement (full and final settlement) and completed this.

Can he provide documentation to court of the agreed settlement and have this shown as satisfied in same way as normal full payment of outstanding CCJ ?

Dave_Ham

Certainly an unusual one, but I think they have to show it as satisfied in the normal manner.

I am surprised that a creditor with a CCJ, has taken a lower full and final so check the paperwork.

Aside from this my personal opinion (and have not had this before) is that they have to mark as satisfied, although unsure if they can mark as partial settlement in the same way as defaults.

I would be interested in the definitive answer though...

Senior_Paper_Monitor

Hi Mr Ham ! Thanks for the feedback

New to me as well - hence the question.

Looks like I'll need to trawl through the court offices for an answer - was just trying to take a shortcut.

My immediate reaction was as yours, but then doubts began to sink in as I was writing to back to the client.

I think the lender may take the documentation and ignore the status on the credit report in this case but I'll carry on with the research in case it occurs again - happily post whatever I find out on here later.

Should anyone else on here have a definitive answer from experience I would be most grateful for them saving me some time

Thrugelmir

To obtain a Certificate of Satisfaction evidence has to be provided to the court that the debt has been satisfied in full.

Partial settlement will show as same on the Court registers.

Senior_Paper_Monitor

According to Oxford (my local) and Northampton (where the CCJ was issued) courts, provided documentation from the claimant is clear that an agreed amount has been "willingly accepted as 'full and final settlement'" they will treat as a normal satisfaction certificate request.

Thrugelmir

Senior_Paper_Monitor wrote: »

According to Oxford (my local) and Northampton (where the CCJ was issued) courts, provided documentation from the claimant is clear that an agreed amount has been "willingly accepted as 'full and final settlement'" they will treat as a normal satisfaction certificate request.

Even so. The CCJ still leaves a black mark for the 6 year duration.

Senior_Paper_Monitor

Absolutely, but 'satisfied' and 'unsatisfied' are treated differently in the adverse/light adverse lenders detailed criteria.

In this case I am hoping that the underwriter will accept the documents showing the deal was done (several years ago) but changing the status on searches will also be beneficial.

Thrugelmir

Senior_Paper_Monitor wrote: »

Absolutely, but 'satisfied' and 'unsatisfied' are treated differently in the adverse/light adverse lenders detailed criteria.

On a business level. Unsatisfied would have rung alarm bells for me. As paints a very clear picture as to the nature of the individual.

Senior_Paper_Monitor

OK - I promised to come back when I got the answer.

I have spoken with courts (including with the one directly involved), Registry Trust and some contacts in the Credit Agency side and have confirmed (at least to my satisfaction) that:

1) There are only two statuses for CCJs (satisfied or not)

2) The courts will accept a negotiated settlement as satisfied if there is documentation confirming that the pursuer is accepting it.

Dave_Ham

Good to know and probably even better for the specific client.

Thanks for letting us all know - good luck