5k of CCJ's and 3k in my Pocket - what would you do?

kittycashcake

Ok, I have 5k CCJs spread over 4 CJJS, I am doing my best to clear my credit status as much as possible and may soon be getting 3k cash. I really would love to clear as much as I can and was wondering the best way to go about it. I was wondering:

Can I make a partial offer to clear the balance and to make as satisfied on my Credit file?
Or does every penny have to be paid to do that?

Heres the values and when they expire

1) - £1041 - November 2020
2) - 386 - June 2020
3) £3488 - October 2020
4) £188 - April 2017

I really would love to smash it all off, the other avenue I was considering if not was to able to make any offers was to try to pay off 3) any hammer at a the smaller ones one by one. I know they will drop off, but I do want to pay it rather than waiting. My score was 145 its now 167 after a few months of paying non ccj debts, I do wonder how paying these CCJ's will effect my rating?

Any advise about what you would do to get the best bang for my buck would really be appreciated!

sourcrates

Hi,
Why are you bothered about your credit rating, can I ask ?

Are you intending to borrow more money ?

With 4 CCJ's your credit file will be trashed for a while yet.
Has any enforcement action taken place yet to recover these debts ?

You can try contacting the creditors and negotiating full and final settlement on these accounts, you would normally expect a little leeway especially if you've not paid them anything as yet.

kittycashcake

Hiya!

Hopefully in 18 months or so I would like to look at taking on my fiancee's other half of the mortgage he has, I have no desire or need for any other forms of credit. I am already paying half of this anyway as we live together, my name just isn't on the mortgage! He is keen to do this too so I have something to show for my payments.

The other reason I would like to approach these people is because I do owe them, although yes I would to make settlements but I don't want to just ignore it completely. Ignoring my responsibilities got me where I am today. I would rather take the financial bull by the horns than wait for a nasty letter.

So far no one has contacted me, I just want to clear my debt, repay what I owe (if possible to get a bargain that would be ace), get my credit file as tidy as I can and become a married lady in 2018 without any old debts and spend my days paying off a joint mortgage as quick as I can.

sourcrates

Did the courts not set a monthly amount you should be paying ?

That's the usual process.

Like I said before, with 4 CCJ's you have no chance of getting on a mortgage agreement I'm afraid.

kittycashcake

Thanks for your thoughts Sourcrates!

I only discovered the CCJ's a few months ago, they were done at the end of 2014, I had move out of the property in August 2014 and had nothing in writing or any dealings or any information for any of them. So I probably was sent something BUT I wasnt there to know what the said as nothing has been forwarded to me and since I have lived here no one has contacted me about my debts.

To be clear you think there no point in paying them at all (other than because its debt I owe), just let them drop off in 4 years time, as paying won't improve my credit rating in any way? I keep finding mixed information about the "credit score value" of paying off CCJ's, its very confusing!
Thanks again!

Jon_B_2

Morally you should pay them back as you owe them money.

You won't be getting on any mortgage in 18 months time, no matter what you do.

fatbelly

Full & final settlement is definitely possible on debts with a ccj, if it's the sort of debt that normally does them, so this factsheet applies.

https://www.nationaldebtline.org/EW/factsheets/Pages/24%20EW%20Full%20and%20final%20settlement%20offers/Default.aspx

You may not get much of a deal, however, as the creditors have the usual enforcement options. You won't know unless you ask.

If you have other debts (and you seem very unlucky if you have 4 ccjs on 4 debts) then these may also cause issues on your credit report.

sourcrates

Wow, no I didn't say don't pay them.

I did say your credit rating should be the last thing you should be worried about.

I'm assuming from what you have said, that the court, and your creditors, don't know your new address.

This could get very ugly, very quickly, as further enforcement action could be next, that may include an attatchment of earnings order, even bayliffs knocking on your door.

You should never ignore a CCJ.

You can find out the details of your CCJ's here :

http://www.trustonline.org.uk

I suggest you find out what's owed, and to whom, then contact each one and make an offer to settle.

As the alternative could be very messy, and cause you tons of hassle.