Way to Pay CCJ?

Kellymay23

Hi all

I have a CCJ on my credit report that I would like to pay. I had made a few payments before it went to a CCJ that I then couldn’t afford to pay and just ashamedly buried my head in the sand and ignored it. It stands at £548 and in the next couple of days I will be in the position to pay it off. The company I made the few payments to was Drydens Fairfax solicitors and the original company I owed was Cabot Financial. I assumed I would need to pay Drydens Fairfax but after logging in my balance is £0. So how do I pay?

Thanks in advance

Arleen

Give them a call and ask them to send you a current tally with bank details you can use to pay, they will gladly send it over via post to you in few days.

BUT! As you will be repaying an account like this, which they likely have a low hope of collecting on (especially in full) why not offer them, let's say 300 pounds as the full and final settlement? They will likely agree with a sum around that area, it still will make them money (the debt was almost certainly bought for fraction of this sum) and you will be spared 250 quid. Sounds good right?

Kellymay23

Hi, sorry if I’m sounding thick

Which company are you saying I should call if the solicitor company has no balance showing for me? I had really hoped it would be as simple as logging in and paying it off

Arleen

No worries mate! You will want to call Drydens Fairfax, and usually it is as simple as logging online but alas sometimes mistakes in system happen, but a simple phone call will sort it out. Can also send him a letter if you don't feel like handling them on the phone.

Kellymay23

Okay so I called Drydens Fairfax (I’ve lost any fear of phoning people I need to pay in a bid to get myself sorted)
They told me they had closed their file on the 22nd November and I needed to contact Cabot Financial directly.

So off I went to them and they said their records still show DF is handling the case and I need to wait until it is returned to them (upto 30 days from DF closing it)

After she gave me my reference number I created my account so I could be ready to pay when it returns, which left me with a few questions.

1) the balance there for my old capital one debt is £427.60 not my CCJ amount of £548

2) despite what they said there is an option to offer a settlement amount which i think I could probably get down to around £200 as I have done in the past

3) should I offer a settlement now if the option is on my account? If i only settle with them at -around £200 will my CCJ still show as satisfied? How does this get updated to my report?

Arleen

The extra 120 quid would be costs of bringing the CCJ in, you are liable for those I am afraid. When did the CCJ take place anyway? If it was as early as late November if you will pay it in full within 30 days it will not show up on your credit file at all.

If it is past that then yes, you can make an offer of full and final settlement with less money, they will likely take it, and the CCJ will show as partially-satisfied but they will not be able to pursue you for the rest of the money. I don't know if it's worth it to pay in full, as lending criteria are secretive, but likely time will be the biggest healer for a file with CCJ on it, not the difference between partially and fully settled.

Kellymay23

The judgement was last year so definitely past that.

It’d be interesting to know peoples thoughts about settling and the knock on effect of having only a partially settled CCJ, as the money saved could go towards paying off some other things quicker but if it will make a massive difference to pay it in full then I can.

Arleen

This question will be much easier to answer if you will post a complete SOA http://www.stoozing.com/calculator/soa.php as then we can see what may be worth more, then 250-300 quid in your pocket or better entry on your file .

fatbelly

Make n offer in writing and get their agreement that the ccj will be marked settled(there is no 'partially settled' mark for a ccj)

There may not be a separate entry for the debt if it was originally defaulted (before being sold to Cabot) more than 6 years ago. If it is stil showing,, then partially settled is the correct mark for that.

Kellymay23

There is no default showing for the original debt as I believe it’s been more than 6 years I can’t be sure but there’s nothing on my credit report other than the CCJ.

I am being loaned a sum to pay off debts that are expensive each month I.e a short term loan that is costing £200 a month and a credit card that needs paying quickly and was planning to pay the CCJ with this amount too.

However if paying a settled amount means the CCJ is marked as settled I can use the money left over from the sum being lent to totally clear one other debt and make a couple of one off payments on the others to clear them quicker.

It’s probably worth noting the sum is coming from family with an agreed repayment plan that is affordable for both sides, I’m not trying to pay off debt with more company debt.

National_Debtline

Hi Kellymay23


The CCJ will continue to have a bearing on your creditworthiness for the six years it remains on your credit report, settled or otherwise. How much of a bearing, and how much this diminishes over those six years, is much harder to say.


You seem to be suggesting above that your credit report is not displaying either your outstanding credit card or your short-term loan; have I understood that correctly?


Dennis
@natdebtline