Monday, Dec 08, 2008
Thousands hit with CCJs
manchester evening news: Thousands hit with CCJs
YOUNG professionals financing Christmas and lavish lifestyles on credit cards and loans are facing a backlash from lenders as thousands are dragged before the courts.
More than 120 people a day have been hit with a County Court Judgement in Greater Manchester over the past three months for failing to repay debts - a rise of 34 per cent.
Posted by mark @ 01:56 PM (1002 views) Add Comment
10 Comments
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1. fancypants said...
"There is also a high level of debt here generally - maybe because it's a relatively affluent area"
erm...
2. stillthinking said...
Perhaps this is just for the lenders peace of mind.
Unsecured debt gets voided in the UK after 6 years from your last acknowledgement of the debt. A CCJ lasts forever.
3. paul said...
fancypants that's made my day.
4. mark said...
stillthinking: a ccj stays on your credit file for 6 years
5. renting2 said...
I think what stillthinking meant was that a CCJ does not become statute barred (unenforceable) after 6 years (12 for mortgages).
6. stillthinking said...
oops.... I meant they can pursue the outstanding amount for longer than 6 years. The debt can last forever.
7. mark said...
a ccj will certainly make you fail for a mortgage at the moment...........
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