Removing CCJs to get first mortgage

iamnewandimproved

Hi,
I'm self employed, live with parents and have a few CCJs against me, they will be automatically removed in the next 2-5 years. What can I do to get rid of them, as I would likew to buy my first property within a 2 years to rent out for the long run.

All advice appreciated.

Rabbie

WildHaggis

You can't get them removed. Only the passage of time will do that. Repaying them would help to improve your credit score, as would some new debt <bizarre I know> that is well conducted - pay everything on time, everytime.
A better credit score would get you a mortgagae with a lower rate. You must also budget for a higher deposit, to make lending to you more attractive / less risky - with ylots of your own money in the investment, you are less likely to default - again - and walk away from the mortgage debt.

lil_me

http://www.insolvencyhelpline.co.uk/ccj-removal/index.htm

Get a copy of your Credit File

To get a copy of your credit file and find out what the problem will cost £2. If you have a broken credit agreement or incurred a County Court Judgment (CCJ) or Scottish Decree, it will be recorded on your file. You need to provide your full name, D.O.B, current address, and any previous addresses over the past 6 years.
CCJs can not be erased from the database and you should not go to a credit repair company which claims it can wipe out CCJs. But if you pay off the CCJ, you can ask the credit reference agency about how to contact the county court concerned for a "certificate of satisfaction". The CCJ is then marked as satisfied on the database.
You can also add a "notice of correction" to your file which explains any special circumstances such as long term illness which made you get into debt in the first place.
If you are not in debtyou could be affected by a member of your family with the same surname and address, who is in debt. If you are not financially affected, ask the credit reference agency for a ' Disassociation '