CCJ pay it or not to get a Mortgage

ady117

Hi all, I have a CCJ for £4300 I have had it 14 months, I disputed it and tried to get it "set aside" as the court did not receive my defence (they say) and judgment was passed.... The judge at the set aside hearing asked me to produce a defence right there and then, which I did not have (or at least a full defence "which i did tell him").. he found in favour of the "company that bought my debt" and took me to the Northampton CCJ machine in the first place... so I couldn't set it aside and put my defence together for another hearing ...(it's complicated)..( could I try again to have it set aside?)

Anyway, I can pay this CCJ today in full.. to get rid of it, this is the only bad debt I have... but even if i pay it off, it's still on my file, and although would be marked as "satisfied" I'm sure it will still hinder me in getting a mortgage with a good rate ... so should I pay it off and waste £4300 hard earned cash? or get a sub prime mortgage that will lend to me and just pay a little more interest for 5 years (hope it's less than £4300), then remortgage when it's removed anyway ? Thanks all

ady117

wow... must have stumped a few with this one... I'm just trying to look at options... an extra £4300 on the deposit might be better off than paying the CCJ or paying a higher rate of interest for 5 years with a sub prime mortgage might work out better value than paying off the CCJ ?... is it just a daft question really ?

themull1

My husband has a CCJ that he settled for £137 and we couldnt get a mortgage anywhere, not even sub prime.

meer53

If you apply for a mortgage and have enough to pay the CCJ do you think they won't ask why you haven't paid it ?

Doesn't look very good does it ?

DaveTheMus

You'll be lucky to get a mortgage with a satisfied CCJ

Angry_Bear

If you have a CCJ and have the money to pay it ... maybe you should (and not just for mortgage reasons). The people you owe the money to could get an attachment of your earnings, or call in Bailiffs, or if you do manage to get a mortgage they could get a charging order placed on your house.

14 months isn't particularly long ago, and gambling that the people you owe almost £5k to won't try to enfore this for almost 5 years seems a pretty big risk to me.

It is possible to get a mortgage at a decent rate with a CCJ, but you'd need to have a lot of other factors in your favour. I doubt that one so recent, and unsatisfied would allow you to even get a "sub-prime" mortgage.

Sparx

How is it a waste of £4300 hard earned cash if you pay off the CCJ so it is marked settled? It's £4300 of someone else's hard earned cash you have already spent and should be paying back..

PaulW922

You should certainly pay it because as has been said above, the creditor will otherwise enforce it!

If you go to a set aside hearing on the basis that you sent in a defence which didn't turn up, and then say you do not have that defence, I would expect the Judge to rule in the creditors favour. However if you believe that your defence is sound you could always apply for a set aside again on the basis that your defence is now available..

If it is a sound defence you could even send it to the creditor in advance and see if they re prepared to agree to the set aside rather than turn up and defend something they will lose. But, whatever you do, be prepared. Don't turn up at the court without having got your case together.

Thrugelmir

If you are serious about obtaining a mortgage then suggest you settle. Little point in playing games as the only loser in this whole saga is you. Trying to be clever hasn't paid off.