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CCJ and what happens next

I'm hoping you knowledgable minds can help. I have been in a self managed DMP for 7 years, most defaults have dropped off my file but I've stupidly ended up with a CCJ for £7.4 K. I'm 56 and hope to leave full time work when I'm around 60/61. By then I will have been in the teachers pension scheme for 36 years. My lump sum will be a decent amount and the pension enough. However, I want to get myself sorted out once and for all before I retire- I don't want to use any of my lump sum to pay off my debts . Saving should be easier now my daughter has almost finished her degree. On paper we look well off but in reality we aren't when we have to top up university living loans. But we are nearly there - daughter finishes uni, mortgage is nearly paid off and we should have £1200 spare each month.
The defaulted ones I can offer settlements (30 - 40% ??) but what of the CCJ? What is likely to happen? I'm paying £25 a month (accepted by the court ). Is this reviewed?, will they go for a charging order to add pressure (land registry will show that we've owned our house for almost 25 years). Part of me wants to save quickly and pay the full amount to be rid of the stress, but will that encourage the others to do the same and go for a CCJ. Can you offer a settlement for a CCJ and if so when ? I'm not worried about my credit score tbh - never having a credit card ever again!!

I feel if I don't sort this out over the next few years I never will and I don't want to go into my retirement worried about debt and the threat of enforcement hanging over me. 

Thanks for reading x


  • fatbelly
    fatbelly Posts: 20,800 Forumite
    Name Dropper First Anniversary First Post Cashback Cashier
    edited 11 February 2023 at 12:27PM
    I think personally I wouldn't rock the boat on this one. If you have an order to pay £25 per month, I'd just do that, even though it will take 300 months to complete.

    You can make an offer of settlement on a ccj but they are less likely to accept it than on a normal debt. Maybe leave it alone for a bit and make an offer at retirement, when the (remote) possibility of an attachment to earnings disappears.

  • sourcrates
    sourcrates Posts: 29,154 Ambassador
    First Anniversary Name Dropper First Post Photogenic
    Some creditors are quite happy to continue accepting the court approved payment without much fuss, others might take a different view, they can push for higher payments, but can`t force you to pay more than the court has stated.

    Its not reviewed, no, your payment is based on your disposable income, and what is affordable to you, that criteria will remain in place.

    As long as you are making payments, any further enforcement action would not be forthcoming, even a charging order would just sit on file until either the house was sold by you, or the debt was fully re-paid.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
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