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by Ashman on 13th July 2010
What are CCJs and how do they effect my application?
by Candice Gallab answered on 13th July 2010
A CCJ is a County Court Judgement, this is a legal decision which has been handed by the County Court. Judgements for monies owed are entered on the Register of County Court Judgements which is checked by credit reference agencies to assess the credit rating of individuals.
A CCJ normally happens if someone you owe money to, successfully takes court proceedings to get back the money you owe to them. If you pay the outstanding balance before the CCJ is complete, you can normally avoid the CCJ being made against you.
You can still get a loan if you have a CCJ, but it might affect the amount you can borrow and the interest rate offered by your lender, this is because the lender will see you as a higher risk borrower.
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