CCJ question

Kaldee12

My credit file is poor with a few defaults, but the worst thing was a CCJ.

This has been paid in full but the 6 years expiry was on 15/05/2024 so it should have dropped off my file on or shortly after that date. This was my one and only CCJ.

How long should I wait before I expect to see an improvement in my credit score?

I have checked ClearScore and it says under "Reports" (updated yesterday) that "Court judgement removed" (and the reference number) but it appears to have had no impact on my credit score?

Likewise on Credit Karma. In my last report today I can't see the CCJ under judgements it just says "No court judgments"

So my question is - why hasn't my score increased? I thought the CCJ was the worst thing possible?

I have other defaults and maybe my credit utilisation is a bit high but the CCJ being removed has had virtually no impact on my score?

Is this normal or do I need to wait longer?

Linus2864

Hi Kaldee,

It is worth reading the sticky at the top of this forum: "What Your Credit Score Really Means"

The score means nothing as only you see it and whether or not it changes is immaterial.

Your credit history is what really matters as that is the information that lenders see.   The fact the CCJ has dropped off is the main thing and, as long as there are no other defaults or other issues, then you should be fine.

Seriously, don't fixate on the numerical score.

Hope this helps.

L

elsien

^^^

What they said. The CCJ dropping off will have far more impact on your ability to get credit than anything else. Individual companies use their own methods to decide whether to lend or not - they don’t use the numbers put up by the credit reference agencies. 

fatbelly

It sounds like the ccj has dropped off 6 years after judgement, as it is supposed to do.

Well done. Check that other factors are in place to improve your credit file

https://www.moneysavingexpert.com/loans/credit-rating-credit-score/

MEM62

Kaldee12 said:

So my question is - why hasn't my score increased? I thought the CCJ was the worst thing possible?

Because your 'score' is a randomly generated number given to you for entertainment purposes only.  

mogsy1975lfc

Morning , the CCJ once removed the score will not change overnight . One default can lower your score on experian by -356 points , i know because its happened to me in the past .Next move to make is look at your defaults find the addresses for the companies write to them and ask for a subject access request and you can see all the information for the defaulted companies individually . Make sure the default data is correct example Address , start dates , defaulted dates etc . If you think your default has the incorrect data send me a message i can help with the next step on how to challenge the companies .

Nasqueron

mogsy1975lfc said:

Morning , the CCJ once removed the score will not change overnight . One default can lower your score on experian by -356 points , i know because its happened to me in the past .Next move to make is look at your defaults find the addresses for the companies write to them and ask for a subject access request and you can see all the information for the defaulted companies individually . Make sure the default data is correct example Address , start dates , defaulted dates etc . If you think your default has the incorrect data send me a message i can help with the next step on how to challenge the companies .

Though of course the score means nothing

Also you should not be suggesting people PM you for details - you should put the information out in public, not least because it might be useful for other people 

CliveOfIndia

mogsy1975lfc said:

Morning , the CCJ once removed the score will not change overnight . One default can lower your score on experian by -356 points , i know because its happened to me in the past .

Please read previous comments, as well as the sticky thread at the top of this forum, before you post.  Whatever happens to your score makes no difference to anything.  It's the underlying data which are important.

mogsy1975lfc

So your both saying if your score is 0 it doesnt matter?

mogsy1975lfc

The higher your credit score is your less likely to be a risk to possible lenders and get lower rates , plus lower the score is the interest rates on loans will be higher . So yes the score matters.. 

CliveOfIndia

mogsy1975lfc said:

So your both saying if your score is 0 it doesnt matter?

Correct.

mogsy1975lfc said:

The higher your credit score is your less likely to be a risk to possible lenders and get lower rates , plus lower the score is the interest rates on loans will be higher . So yes the score matters.. 

Wrong.

To be clear, when you make an application for credit, the lender will run your data through their internal algorithms, and come up with their own internal credit score.  Each lender will have different lending criteria, a different risk appetite and a different target customer base.  Their scoring criteria are highly confidential and commercially sensitive, so no-one will ever know what they are.

This is one reason why there cannot possibly be a one-size-fits-all score, and why the CRA scores are meaningless - quite apart from anything else, the CRAs cannot know what factors a lender takes into account and what weighting they assign to each individual data point.

Of course, there are some things which will be common to all lenders - a default or a CCJ will be viewed negatively by any lender, for instance.  But how much weighting they give to that event, in the context of and in conjunction with all the other raw data, will vary to a considerable extent from one lender to another.

I suppose, being charitable, the CRA score is, at best, an extremely rough-and-ready guesstimate of how a lender might view you.

But even that is tenuous - your CRA score will drop in response to any change in your credit circumstances, whether good, bad or indifferent.  It will slowly rise over a period of stability.