County Court Judgements (CCJ’s)
It can happen so easily, can’t it? You made a few bad decisions in the past, haven’t we all? – perhaps you just couldn’t afford to pay that bill, or you got yourself into serious debt and couldn’t dig yourself out of the hole! Maybe back in history, you refused to pay a bill out of principle, like the dreaded poll tax. Whatever the reason or circumstances, you now find yourself burdened with a County Court Judgment or CCJ against your name. But now you need a mortgage and severe problems lie ahead of you.
Major mortgage lenders are very likely to refuse a mortgage to anyone in such a position because a CCJ places a black mark on your credit record. No account will be taken of the fact that this may have been just a one–off financial crisis. They probably won’t even bother to enquire about the circumstances of the CCJ. It is easier for them to just say NO and they will do just that!
Becoming bankrupt is a fate that isn’t worse than death, but it can feel pretty ruinous to be unable to pay one’s debts. Anyone can go bankrupt and find themselves in Carey Street (London home of the Bankruptcy Court). When a bankruptcy order is made, the conditions attached to the order are stringent and it is impossible to obtain any form of credit without disclosing the fact of bankruptcy.
Even once you have been discharged as a bankrupt, after the usual three year period (though it can be longer), you will find it very difficult to obtain a mortgage. Regardless of your previous mortgage repayment record, no mainstream mortgage lender will touch you with a bargepole if you have been made bankrupt. From their point of view, the risk is simply unacceptable. Major lenders choose to believe that lightning always strikes twice!
Is there no hope? Yes, there is an answer, but you need to speak to us at Finance Assured Financial Services Ltd. We will help you to look towards a brighter future by dealing with your enquiry in complete confidence and doing our utmost to solve even the most complex credit problem.
We always get the best deal for our clients