We want to move but have CCJ

rainingcats

We are not wanting to move on a whim and ignoring our debts. It is because we are rural and have a special needs child and need to be nearer services etc otherwise would wait until we had cleared debt

Gordon_Hose

rainingcats wrote: »

It was july 2008 by the time it was issued

It'll drop off your file in July 2014 then, so about 7 months to run.

I'd wait until then personally. Having a CCJ showing on your file is about as bad as it gets and most lenders would run a mile.

Thrugelmir

rainingcats wrote: »

We are not wanting to move on a whim and ignoring our debts. It is because we are rural and have a special needs child and need to be nearer services etc otherwise would wait until we had cleared debt

I have empathy with your situation. However to be totally blunt. You appear to be blinkered or unwilling to accept the seriousness of the fact that the CCJ is unsettled.

Sell the property and rent, not purchase. Then you'd be in a position to clear your debts. There is no automatic right to obtaining a mortgage. Totally the reverse in fact. Lenders set the rules. Borrowers need the correct profile to qualify.

rainingcats

Thrugelmir- I get what you are saying but if we did that how long would it take before we would be considered for a mortgage again. Taking in mind we are approaching 50 soon!

Gordon_Hose

The CCJ drops off in July next year, once it's dropped off and providing you have no other bad credit, you can apply for a mortgage.

rainingcats

:beer:Thanks for that information. Think we prob sell, clear debts and then buy what we can with whats left until we can reapply. Also takes away millstone from around our neck.

ValHaller

rainingcats wrote: »

It showed the past issues then scored me at 976 so can`t understand how they arrive at that

Different lenders have different criteria. So you would score differently for sofa credit to how you would score for a mortggae.

Experian do not lend. Their score as far as I can see is oriented to bouncing up and down to keep people paying good money for it. But if it relates to anything, it is how good you are for credit on a sofa.

ValHaller

rainingcats wrote: »

It was in 2007 for a nat west loan, we had a baby which meant I lost my income. They would not accept reduced payments as asked and took us to court via a company called shoosmiths. Amount was 10,000 now 5000.

Were you not able to get it paid off more quickly? It seems that you settled into paying just what was ordered when your financial situation was at its worst. Only paying off £5000 in 5 years indicates that you would not be resilient against financial stress.

Experian_company_representative

The score focuses on your more recent history, which is how most lenders' scores work. However, lenders can also set policy rules to specifically look out for things like old CCJs and defaults and can potentially make a decision based on those irrespective of the score. The CCJ will be flagged up on your credit report summary.

James