CCJ and F&F

SideShowBob

I have a CCJ with Lowell which I am paying at £1 a month.

Total owing is a little over £1,000

I want to know whether Lowell would accept a full and final setllement on a CCJ or as they have a judgement against me already just carry on with the payments.

As its stands it is going to take over 83 years at £1 a month to repay the debt.

I have had an unexpected windfall of £400 and wondered if they would accept that rather than wait 83 years.

Would the CCJ then be satisified?

Any help appreciated.

StopIt

Always worth a try, especially as the current rate of payment actually costs Lowell more to process than they receive in all likelihood.


See the linked factsheet here on F&F settlements.


https://www.nationaldebtline.org/EW/factsheets/Pages/fullandfinalsettlementoffers/lumpsumoffers.aspx


Basically, Lowell know the rules as well as any DCA but make sure that any offers are in writing and accept that the CCJ will be satisfied and marked as such on the register of judgements and your credit file.


The worst you'll get is a no. Offer 30% first to give leeway for negotiation.

SideShowBob

Thanks StopIt.

I will send the letter and see what they say.

National_Debtline

Hi there,


According to the ICO guidelines, a CCJ can only be marked as fully satisfied if you have paid the full amount owing. The lender may agree to a partial settlement, and may be able to mark the CCJ with a £0 balance as no more money is expected, but it cannot be marked as fully satisfied and there is no provision to mark a CCJ as partially settled I am afraid.


"5. When an account is closed, the record should properly reflect the closing payment status of the account and any agreement between the parties.

If you make a full or part payment and no further money is expected, the account should be closed unless you have agreed with your provider to continue your relationship.

If the account is to be closed, your record should be marked as fully paid if:

• You have paid the money owed in full
• A CCJ or decree was granted and you have paid in full the money owed as determined by the court

Your record should be closed and marked as partially settled if:

• The lender accepts final settlement of the account for less than the balance outstanding
• Your account is included in an insolvency such as a bankruptcy or IVA which is discharged / completed and less than the full amount is paid

The fact that the account was previously in default will remain on your credit file for 6 years from the date of default. If the account was not in default, the record would remain on your credit file for 6 years from the date of closure."


Laura
@natdebtline