If you owe money and do not repay this, the company to which you are indebted can apply for a CCJ requesting that a judge instruct you to make payments and repay the debt.
A judge will review any request received and will seek information from both the creditor and the individual in order to decide how much, if any at all, is owed and how it should be paid back. A Claim Form will be sent which will detail the companies details and its requests and this should be completed to include whether or not you agree with the amount and also to explain why any payments have not been made in the past.
As well as the Claim Form, an Admission Form will also be sent which should be completed to inform the judge of your incomings and any outgoings. You can also use this form to make suggest a possible repayment amount which will then be taken into consideration by the creditor and the judge. If either party decide not to accept this offer then the judge will make the final decision as to the amount and the frequency of any payments.
If your forms are not returned within the stated time, usually 14 days, then a Forthwith Judgement may be applied which will demand that the full amount is repaid in full.
In some cases where an individual can prove that they are unable to afford any repayments detailed within a CCJ a Redetermination can be applied for to reduce the amount. This must be applied for as soon as possible after the judgement and does carry a fee.
In some cases, a judge may combine one or more CCJ that have been issued to the same person and request just one payment that can be spread amongst that individual’s creditors. All payments are to be sent to the company directly or to an appointed solicitor or lawyer. Agree an appropriate method to make the payments with the creditor which will provide proof of each amount paid.
A CCJ will affect your credit rating and stays on a register for six years. Details can only be removed from the register if the full amount of money owed is repaid within 4 weeks and you can do this by contacting the court and paying a small fee.
You can find more CCJ information at Payplan.com which may be very useful in the case of you having an excess credit card debt which you cannot pay.
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Tags: ccj, Debt, Debt Management