Business, Legal & Accounting Glossary
A County Court Judgment (CCJ) is a type of court order in England, Wales and Northern Ireland that might be registered against you if you fail to repay money you owe.
In England and Wales, County Court judgments are legal decisions handed down by the County Court. Judgments for monetary sums are entered on the statutory Register of Judgments, Orders and Fines, which is checked by credit reference agencies to assess the credit-worthiness of individuals.
A CCJ can seriously harm your credit rating
CCJ is an abbreviation of County Court Judgement, which is a court order made when a creditor successfully argues that you have defaulted on a debt.
The order will state how much you owe to the creditor, and will also detail a repayment schedule which the court decides on after taking into account your financial circumstances.
A CCJ has very serious consequences for your credit rating and will remain on your credit file for 6 years regardless of whether you clear the debt or not.
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This glossary post was last updated: 4th April, 2020 | 6 Views.