Satisfied CCJ still killing my credit rating

Cannonball

Hello.

I was very pleased recently that some CCJs disappeared off my record. I expected my rating to shoot up. However my Equifax credit rating shows me as having gone down from 76 two weeks ago to 12. Yes 12.

The red warning is over a CCJ that was satisfied a few months back according to Equifax. It is marked clearly as fully paid off over the course of two years and is Satisfied. I never applied for this to be satisfied but that's how it's showing. However it is killing my credit rating. I never even knew you could get to 12.

My credit record is all green except for this.

Do I need to contact Equifax and ask them to do something, or do I need to get an actual Certificate of Satisfaction? I don't see why as it shows on the record as satisfied.

I am utterly confused about this and of course utterly credit-screwed too!

Thank you for any assistance.

CB

rizla_king

I expect the creditor has told the court it has been paid off so they have updated it to satisfied. A certificate of satisfaction won't make a blind bit of difference to your credit file.

Buzby

It will be the date - did you pay it off? If not, you could challenge the data on accuracy, however if they change it back, the situation won't get any better as the modification date will reset.

What the CRA gives you a rating of is of no consequence to anyone but them. Nobody else sees it.

Tixy

With any CCJ on your file this is going to make many lenders unwilling to lend to you.

Probably makes no difference to most if you have 2 CCJs or 4 CCJs on there - both are bad. So just because 2 CCJs have now dropped off your file its not likely to make it much easier to borrow money.

The score increasing or decreasing by a few points is largely irrelevant, potential lenders assess the raw data on your file when making a lending decicions.

Dovah_diva

Even a satisfied CCJ demonstrates that you defaulted badly enough for the creditor to take you to court. Since they received the CCJ you've paid, but unfortunately too late to prevent the CCJ from staying on your file for six years from the date of default.

Assuming the information is correct there is nothing you can do to get it removed.

Cannonball

Thank you for the responses.

I am going to attempt to have the CCJ dismissed and am looking into the possibilities. Thanks again for your help here. I'm quite stunned by how bad my rating became so quickly!

You-kip

Cannonball wrote: »

Thank you for the responses.

I am going to attempt to have the CCJ dismissed and am looking into the possibilities. Thanks again for your help here. I'm quite stunned by how bad my rating became so quickly!

You don't have a credit rating so you wouldn't know.

Credit rating (score ) is only seen by a computer when processing an application.

Cannonball

I don't quite understand what you mean. If you are arguing over semantics I will admit defeat and move on. The problem for me is that I am thinking seriously of moving jobs and the application process will involve a credit check. With a score of 12 I think I may be forced to stay right where I am.

Sinhanada

Cannonball - don't worry about the responses. I can understand what you mean.

I would contact the company you are considering applying for and ask them outright if having a satisfied CCJ would affect your chances of employment. You could do this anonymously. I would however concur with the majority on here that the score is irrelevant.

The_Boss

Cannonball wrote: »

I don't quite understand what you mean. If you are arguing over semantics I will admit defeat and move on. The problem for me is that I am thinking seriously of moving jobs and the application process will involve a credit check. With a score of 12 I think I may be forced to stay right where I am.

That score doesn't exist in anywhere other than La La land (as You-kip advised you) and has no meaning in the real world.

The CCJ is valid so not sure on what grounds you are going to look to get it removed. A satisfied CCJ is seen as slightly better than an unsatisfied one because at least you've met repayment (somewhat) rather than just ignored it/made no effort to satisfy. But obviously both are very damaging to your credit file.

tinkerbell28

Cannonball wrote: »

I don't quite understand what you mean. If you are arguing over semantics I will admit defeat and move on. The problem for me is that I am thinking seriously of moving jobs and the application process will involve a credit check. With a score of 12 I think I may be forced to stay right where I am.

The SCORE is irrelevant. It is nonsense, a financial vetting process will not show your score.

It will be checking for ccj's etc. So it will show. Most people who need financial vetting won't be ruled out with a SATISFIED CCJ. But depends on the job, for some jobs it is a no-no.