CCJ

anitamarie1

I was issued a ccj about 4 years ago for around 8000. I've been paying 40-50 a month since then. I'd there a time limit on these Ccj's or is it u just pay it until the debt is clear. I just cant see a light at the end of the tunnel with this debt. The debt was inherited from a limited company which I was a director of before it went bust. When the ccj was issued I was bogged under by so much stuff I didnt have time to contest it and the ccj was just issued. Any1 know where I stand or if theres anything I can do??

gettingtheresometime

This would be better off posted in the debt free wannabe board - could an admin bod move it ? But in the meantime when you say it was inherited what do you mean? 

I thought that if a debt belonged to a ltd company then unless the directors were negligent then there was no recourse if it went bust & had debts

sourcrates

You cannot inherit a county court judgement, it is made against either an individual, or a company, which is it in your case ?

If made against the company, and the company went bust, the CCJ would be cleared by that insolvency.

If made against an individual, then it would still be live.

Galloglass

As above. Business debts die with the business unless you were a sole trader. 

As regards a CCJ, firstly the debt always exists. Secondly a lot of people with CCJ's never pay them but will be harassed for a while until it becomes too costly to pursue. Thirdly, the rate of payment suggests paying off the debt in 16 years so it is quite a good deal.

If even the £40 - £50 is difficult you can go back to court for a "means hearing" to work out affordability but that rate of repayment (£10/week) is a very common amount from cases I've seen.

unholyangel

Directors are often required to sign personal guarantees for credit for limited companies. So the OP can indeed be held liable for the debt of a limited company if that is the case here.