CCJ - how long to pay?

rebuilder

Hello all.

I had a CCJ around 10 years ago (credit card debt) - unfortunately they contacted me after around 5 years to enforce this CCJ.

Now a few years later the CCJ has fallen off my credit record and I am paying a token £1 a month 

It seems the debt was sold to another company (was originally with IND ltd) and I have had no contact or anything regarding upping the payment etc etc 

Does anyone know how long this can go on for? Is there a time limit or maybe a ruling against the debt being sold? As realistically I'd have to be paying this £1 per month for the rest of my life if I was to end up paying off the whole CCJ..

Thank you.

MEM62

You continue to make payment until the debt is cleared.  There is no time limit for clearing it.  If you have been paying £1 a month for years they may have offered you a discounted settlement.  How much is remaining on the debt? 

rebuilder

Probably around £3500 remaining as far as I'm aware.

MEM62

Unless your circumstances have dramatically changed, you might as well carry on as you are.  

sourcrates

Creditors have 6 years to enforce judgements, after that time they must seek court permission if they want to do so, courts usually go by the mantra that unless you have been living on the moon, 6 years is perfectly long enough to enforce their rights.

fatbelly

I'd just carry on with the standing order for £1 and carry on as if it doesn't exist.

I can't imagine anything will happen after this time unless they write with an offer to settle.

A savings pot is really useful in that circumstance if you can manage that.