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Pay off CCJ or not?
System
Posts: 178,376 Community Admin
This discussion was created from comments split from: DMP mutual support thread part 13 !!.
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You are in a dmp. Your credit file is shot so that's not a consideration.
Who got the ccj? Was it a parking fine?0 -
The CCJ will only stay on yor credit files for 6 years. After that you'll be clear.
I went from having a CCJ and 2 defaults to then getting a mortgage after they dropped off.0 -
Can I ask what you will be paying to the DMP, because it it isnt much, then you may be eligible for a DRO which would clear all your debts including this CCJ0
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Who is your DMP with and are the £110 payments easily affordable?
With 20k of debt and in social housing, a DRO or bankruptcy would be better options for you, to clear all your debts including this CCJ. Then you can start saving a deposit if things get better and then think about a mortgage when the CCJ and DRO/insolvency are off your credit record. At the moment you have no chance of clearing the DMP debts and saving a deposit, the CCJ doesnt really change this.0 -
Where could you get the money from to repay it in full?0
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ManyWays said:Where could you get the money from to repay it in full?
...........................................Littlebigmoose said:I only have £2k saved for emergencies.0 -
Presumably the debts in the DMP already have defaults showing on your credit file anyway - when are those due to drop off (6 years from the defaults date)? Unless you’re a good way into the DMP then I assume you already have a fair few years of your file being a bit of a mess anyway - I don’t think stripping a big chunk out of your emergency fund just to save the extra bit of time that the CCJ will affect things is a great idea to be honest.Does your budget allow for you still being able to make at least a small payment into your EF each month?🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
Balance as at 31/08/25 = £ 95,450.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
No as I wasn't looking to move at the time. I only decided to buy a new house after my debts were gone and I had secured a higher income.Littlebigmoose said:
Thanks for your response. Did you ever try to get a mortgage during the CCJ period?MeadowsVale said:The CCJ will only stay on yor credit files for 6 years. After that you'll be clear.
I went from having a CCJ and 2 defaults to then getting a mortgage after they dropped off.0
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