CCJ
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.
More on 'Bad Credit':
Related Links:
What is a County Court Judgement (CCJ)? - Find out what a County Court Judgement is, and how a CCJ will affect your credit rating
County Court Claims and County Court Judgments (CCJs) - The DirectGov guide to CCJs
