Accountant Forums


Reply
Thread Tools

Credit: CCJ - certificate of satisfaction

 
 
deejaypaulr@gmail.com
Guest
Posts: n/a
Thanked:
 
      09-28-2005, 10:31 AM
I have a CCJ from about two years ago which I paid off in installments.
I have copies of my credit report from the three agencies which show
this. These credit reports also state that I should obtain a
certificate of satisfaction from the court, and send this to the
agency, which they will mark against the CCJ entry.

I have obtained a letter from the debtor confirming that the debt has
been paid in full, and I need to send this to the court together with
10 for them to issue a certificate of satifaction.

However, will this be a waste of time/money? Basically i'm trying to
improve my credit rating, but do companies see that the CCJ has had a
certificate of satisfaction and take this into account, or do they just
see a CCJ regardless of whether it has been paid or not? In other
words, will obtaining a certificate of satifaction improve my credit
rating at all?

Many thanks,

Paul

 
Reply With Quote
 
 
 
 
Ronald Raygun
Guest
Posts: n/a
Thanked:
 
      09-28-2005, 12:24 PM
(E-Mail Removed) wrote:

> However, will this be a waste of time/money? Basically i'm trying to
> improve my credit rating, but do companies see that the CCJ has had a
> certificate of satisfaction and take this into account, or do they just
> see a CCJ regardless of whether it has been paid or not? In other
> words, will obtaining a certificate of satifaction improve my credit
> rating at all?


Good point.

Though it will show the debt as discharged, and this will no doubt count
in your favour to *some* extent, of far more interest to potential lenders
is the fact that you fell into arrears in the first place, which will put
them off. Granted, it will put them off more if the judgement is still
not satisfied, but before they read that far, they've already had their
first impression.

 
Reply With Quote
 
 
 
 
Paul R
Guest
Posts: n/a
Thanked:
 
      09-28-2005, 02:04 PM
Well that's my question really, do potential lenders actually look into
whether a judgement is satisfied (or do they even get that information
when they do a credit check), or do they only see that there is a CCJ
there?

 
Reply With Quote
 
Ronald Raygun
Guest
Posts: n/a
Thanked:
 
      09-28-2005, 02:15 PM
Paul R wrote:

> Well that's my question really, do potential lenders actually look into
> whether a judgement is satisfied (or do they even get that information
> when they do a credit check), or do they only see that there is a CCJ
> there?


I don't know. I'm just saying that *even if* they see it, once they've
seen the CCJ at all, you're as good as done for. If that is so, your
question becomes almost pointless.

 
Reply With Quote
 
Paul R
Guest
Posts: n/a
Thanked:
 
      09-28-2005, 02:20 PM
Hmmm, you are right there...so in effect it's a waste of time updating
my credit file then?

 
Reply With Quote
 
-=D@n=-
Guest
Posts: n/a
Thanked:
 
      09-28-2005, 04:21 PM
Paul R wrote:
> Hmmm, you are right there...so in effect it's a waste of time updating
> my credit file then?


I would disagree. I had a default (I know, not as bad as a CCJ) that showed
on my credit file when applying for a mortgage with a major lender. I sent a
letter with the mortgage application explaining what had happened, and they
accepted it and gave me a mortgage at their most preferable rate.

There's not much effort in updating your file, and the 10 charge could well
be swallowed up if a lender decides to offer you a better rate because they
see you've satisfied the CCJ.

Just my tuppence worth.


 
Reply With Quote
 
Tim
Guest
Posts: n/a
Thanked:
 
      09-28-2005, 04:39 PM
> Paul R wrote:
> > Hmmm, you are right there...so in effect it's
> > a waste of time updating my credit file then?

>


"-=D@n=-" wrote
> I would disagree. I had a default (I know, not as bad as a CCJ) that

showed
> on my credit file when applying for a mortgage with a major lender. I sent
> a letter with the mortgage application explaining what had happened, and
> they accepted it and gave me a mortgage at their most preferable rate.
>
> There's not much effort in updating your file, and the 10
> charge could well be swallowed up if a lender decides to offer
> you a better rate because they see you've satisfied the CCJ.


Just a thought - under the DPA, don't the credit reference agencies **have
to** correct a file if it is incorrect, for *free*?

So OP might be able to get away without paying the 10 fee - he simply tells
the CRAs that the CCJ *is* satisfied, and that their file holds **incorrect
data** - they'll then need to either show that it is *not* incorrect, or
correct it.
If it *is* satisfied (as the OP knows it is), then they won't be able to
show that the data isn't incorrect, will they?! ... So they'll then need to
update it - for *free*!!



 
Reply With Quote
 
john boyle
Guest
Posts: n/a
Thanked:
 
      09-28-2005, 07:21 PM
In message <dheh0g$b4a$(E-Mail Removed)-infra.bt.com>, Tim
<(E-Mail Removed)> writes
>> Paul R wrote:


>So OP might be able to get away without paying the 10 fee - he simply tells
>the CRAs that the CCJ *is* satisfied, and that their file holds **incorrect
>data** - they'll then need to either show that it is *not* incorrect, or
>correct it.
>If it *is* satisfied (as the OP knows it is), then they won't be able to
>show that the data isn't incorrect, will they?! ... So they'll then need to
>update it - for *free*!!


The data wouldnt be incorrect. It will show a county court judgement.
That is a matter of fact and is correct even if it has been subsequently
satisfied.
--
John Boyle
 
Reply With Quote
 
Paul R
Guest
Posts: n/a
Thanked:
 
      09-28-2005, 08:43 PM
Thanks for your help guys. From that I think I might as well pay the
10 fee if it will make a small difference.

john boyle wrote:
> In message <dheh0g$b4a$(E-Mail Removed)-infra.bt.com>, Tim
> <(E-Mail Removed)> writes
> >> Paul R wrote:

>
> >So OP might be able to get away without paying the 10 fee - he simplytells
> >the CRAs that the CCJ *is* satisfied, and that their file holds **incorrect
> >data** - they'll then need to either show that it is *not* incorrect, or
> >correct it.
> >If it *is* satisfied (as the OP knows it is), then they won't be able to
> >show that the data isn't incorrect, will they?! ... So they'll then needto
> >update it - for *free*!!

>
> The data wouldnt be incorrect. It will show a county court judgement.
> That is a matter of fact and is correct even if it has been subsequently
> satisfied.
> --
> John Boyle


 
Reply With Quote
 
Tim
Guest
Posts: n/a
Thanked:
 
      09-29-2005, 07:24 AM
> "Tim" wrote
> >So OP might be able to get away without paying the 10
> >fee - he simply tells the CRAs that the CCJ *is* satisfied,
> >and that their file holds **incorrect data** - they'll then
> >need to either show that it is *not* incorrect, or correct it.
> >If it *is* satisfied (as the OP knows it is), then they
> >won't be able to show that the data isn't incorrect, will
> >they?! ... So they'll then need to update it - for *free*!!

>

john boyle wrote:
> The data wouldnt be incorrect.


It would be incomplete, and therefore misleading.

john boyle wrote:
> It will show a county court judgement.
> That is a matter of fact and is correct
> even if it has been subsequently satisfied.


True, but the credit file *also* has a field for "date satisfied". If that
field is blank - as it would be - then this indicates to any reader that it
*hasn't* been satisfied. That's blatantly incorrect.



 
Reply With Quote
 
 
 
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Disappointment with Intuit 100% Satisfaction Scribbles Quicken 3 05-13-2006 01:17 PM
CCJ or court summons...different? Ben UK Finance 3 09-22-2004 07:25 PM
How long does it take for a CCJ to be registered? SteveR UK Finance 1 09-14-2004 02:51 AM
Revenue CCJ Andy Pandy UK Accountancy 12 06-10-2004 09:57 PM
CCJ - Credit Ref Agencies Online UK Finance 1 10-27-2003 08:45 PM


All times are GMT. The time now is 01:24 AM.
Posts in this forum do not constitute the advice of AccountantForums.com or its members. Financial advice should always be taken from qualified advisors before committing to a financial decision.