What is a CCJ?
November 8th, 2009
A CCJ is an acronym for County Court Judgment (CCJ).
They are what happens after a court hearing in the UK, when the judge issues a defendent to repay a debt that they owe to another party. If during the proceddings you are not able to agree with your creditor on an amount to pay back then the court may decide on amount that is fair for both parties.
A CCJ is not as bad as bankruptcy but it typically signals the fact that your finances are in poor shape and need to be addressed as soon as possible. County court judgements can be combined if you have a number of creditors with which you have outstanding debts. This is what is known as an Administration Order.
Entry Filed under: Business