CCJ question

eportdave

Hi all.
I am currently paying off a CCJ. I have been paying it monthly for about 5/6 months.
Soon (within the next 6 months) I will have it low enough for me to ring up and pay the outstanding sum.
My question is, How will this affect my credit score in the months after I have settled this debt?
And more importantly, how would this effect my chances of getting a mortgage? (joint with my partner). the plan would be to apply for one in 3 to 5 years time.
Thanks all

Marktheshark

Lenders can not see your credit score, it is only for you.
What they can see is credit history and that will show a CCJ known as "set" (not paid in 14 days) for 6 years from the date it was given in judgment.
It can not be removed.

National_Debtline

Hi eportdave


Your CCJ can be updated to show that the balance has been satisfied once you have paid off the outstanding balance. That certainly helps from a creditworthiness perspective, but what it won't do is remove altogether the trace of the CCJ - as Mark says, that will take six years to disappear from the date of judgment.


It's impossible to quantify how it would affect your ability to seek a mortgage within 3-5 years, only that it would be one contributing factor among many others of various sizes e.g/ loan to value ratio, affordability of repayments, job security etc etc.


Dennis
@natdebtline