We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Pay off CCJ or not?
System
Posts: 178,412 Community Admin
This discussion was created from comments split from: DMP mutual support thread part 13 !!.
This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
0
Comments
-
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
-
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
-
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
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA 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
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards