CCJ - Better to pay off in full or bolster savings?

Hopeless_saver

Hi!
I have a 4 year old CCJ for £4k which I currently pay off at a rate of £5 a week, I know this isn't much but its the best I can do at the moment and would rather be consistent! With this in mind, knowing that my credit should improve once the ccj comes off my credit file in 2 years i'm saving for a mortgage. I have 5k saved so far and hoping that by the time my ccj drops off il be in better standing for a Mortgage.

Would you recommend paying the CCj off in one payment or contine with my weekly agreement and keep the money for savings?

Thank you!!!

takman

How much are you putting into savings each week/month ?

Hopeless_saver

I save £400 every month, it goes straight into my help to buy isa. But when I get extra income from bonus/ other bar jobs I try and save more!

[Deleted User]

Hopeless_saver wrote: »

I have a 4 year old CCJ for £4k which I currently pay off at a rate of £5 a week, I know this isn't much but its the best I can do at the moment

With 5k of savings and a spare £400 a month, I don't think that is the best you can do.

YorkshireBoy

Hopeless_saver wrote: »

I save £400 every month, it goes straight into my help to buy isa.

Must be a tight squeeze, bearing in mind the £200 per month limit on HTB ISA deposits!