County Court Judgement Numbers Soar
The amount of consumers with CCJs registered against them for vegas pro 9 64 bit download consumer debts soared in the last year in yet another concerning indication of our over-indebtedness.
In total, 843,853 people had vegas pro 9 64 bit download CCJs registered against them, up by a third compared to vegas pro 9 64 bit download the previous year and the second consecutive year that the vegas pro 9 64 bit download figure has grown.
According to vegas pro 9 64 bit download the Registry Trust, the organisation that tracks the figures on behalf of the vegas pro 9 64 bit download Lord Chancellor’s office, lenders are vegas pro 9 64 bit download taking borrowers to court much earlier than before to ensure they have vegas pro 9 64 bit download a claim on the borrower’s property.
CCJs are vegas pro 9 64 bit download the first step in a legal process that can end with bailiffs at your vegas pro 9 64 bit download door, demanding goods to the value of the debt. It is vegas pro 9 64 bit download also the first step for a lender to obtain a charging order, which converts any unsecured debt into a vegas pro 9 64 bit download secured one, enabling it to make a claim against the value of the vegas pro 9 64 bit download borrower’s property.
CCJs are vegas pro 9 64 bit download of course best avoided completely if at all possible, and vegas pro 9 64 bit download for homeowners who have a number of debts which are vegas pro 9 64 bit download proving difficult to manage and risk acquiring CCJs as a vegas pro 9 64 bit download result, an oft used and viable tool is to consolidate a vegas pro 9 64 bit download number of smaller, unsecured loans by taking out a debt consolidation loan using the vegas pro 9 64 bit download equity in their property to secure a lower interest rate, which can vegas pro 9 64 bit download serve to lower the monthly cost of repaying their debts, especially when vegas pro 9 64 bit download combined with a longer repayment period.
A County Court Judgment stays on a person’s credit file for vegas pro 9 64 bit download six years unless they pay the balance within a month of its issue. Even if the vegas pro 9 64 bit download debt is paid within the six years, the CCJ will remain on file, but will be vegas pro 9 64 bit download marked as ’satisfied’.
Even for vegas pro 9 64 bit download consumers who already have CCJs, there are still solutions available to vegas pro 9 64 bit download get their finances back on track. There are a number of lenders who vegas pro 9 64 bit download specialise in offering debt consolidation loans to consumers with adverse credit win xp3 2011 varieties, and vegas pro 9 64 bit download who will lend to consumers with not only CCJs, but also mortgage arrears and vegas pro 9 64 bit download even to consumers in an IVA or bankruptcy.
The lenders have vegas pro 9 64 bit download seen bad debt levels explode in recent years as an vegas pro 9 64 bit download increasing number of debtors utilise the less stringent bankruptcy laws and vegas pro 9 64 bit download Individual Voluntary Arrangements. The latest set of financial figures from vegas pro 9 64 bit download the banks show that Royal Bank of Scotland (owners of NatWest), HSBC, Barclays and Lloyds TSB collectively wrote off £11.6bn in bad debts from customers last year.
Malcolm Hurlston, Registry Trust chairman said: ‘Judgments are an important item in creditors’ armoury, particularly for dealing with people who are ‘won’t pays’ rather than ‘can’t pays’ and vegas pro 9 64 bit download the sharp rise indicates that it is creditor behaviour that vegas pro 9 64 bit download is changing.’
Mr Hurlston continued: ‘Creditors are vegas pro 9 64 bit download seeking judgments as the necessary first step to obtaining charging orders against debtors’ properties, thus securing their share in any equity. It is vegas pro 9 64 bit download a further warning to homeowners who may have borrowed too heavily on top of rising interest rates and vegas pro 9 64 bit download escalating house prices.’