CCJ’s, Debt consolidation, potential home owner

B3x

So I’m in a bit of a pickle. I have a CCJ for 3 1/2 years ago whilst I was at college/uni. I am now a qualified nurse and wanting to potentially looking to try to own our own home. 

I have a student overdraft too.

I have a couple of questions as I don’t know the answers. 

1. Is it better to continue to pay the monthly amount to my CCJ or is it better to get a debt consolidation loan to pay this off so that it shows as satisfied? Scared of recent loan showing up on file when we go for a mortgage. 

Also 2. How is it best to go for a mortgage with a CCJ? We have been in touch with one mortgage advisor and he hasn’t even called us back. I’m assuming because he can’t make any money from us (!)

3. Wondering if it is even worth buying now with the current situation? 

Any help would be most appreciative. 

Kind Regards

[Deleted User]

You won't be getting a debt consolidation loan with a CCJ. If you could, the APR would be horrific.

Get it paid off as soon as you can.  There no point in looking to buy until you've cleared your debts and saved your deposit and costs.

MinuteNoodles

The damage is already done with a CCJ however as time goes on as long as there's nothing else negative it has less and less impact. By 4 years with an otherwise squeaky clean record it'll be quite minimal. A loan will impact how much you can borrow with a mortgage.