How Do You Get a County Court Judgment or CCJ?

CCJ stands for County Court Judgement. This judgement is usually related to a debtor who has defaulted to pay off his debt. This judgement can be pronounced by the County Court or higher courts. This judgement is recorded against the debtor and the credit record of the person shall always portray this CCJ. Hence, it becomes difficult for the concerned person to seek further loans, since the creditor performs the CCJ check. On one hand, the CCJ seems to be a nightmare for the debtors while on other hand, it is an efficient tool for creditors to extract their due credit from those debtors who are proving to be stubborn to heed to their legitimate demands. Hence, for every creditor, it is necessary to know: how do you get a CCJ.

A County Court Judgement can be obtained by any creditor against their debtor whose debt is not getting fulfilled. However, certain so-called serial debtors seem to have more than single CCJs in their name. Hence, it is necessary for the creditor to perform a CCJ check while mulling over giving a debt to someone. Otherwise, under unfortunate circumstances, the creditor might be required to search for the process of how do you get a CCJ? Nevertheless, the process of acquiring a CCJ is very simple.

The first and foremost thing to do, while being in the process of acquiring a CCJ, is to acquire the current address of the debtor. This cannot be more tedious than performing a CCJ check against someone. Once the address is in hand, the creditor needs to fill in the requisite forms. These forms are available online and can be accessed easily. After filling the forms and providing with the necessary enclosure, the next step in ‘How Do You Get a CCJ’ process is to submit them in the relevant court. The creditor also has the claiming right to demand a considerable interest on the debt which the debtor has left outstanding.

After submitting, the court takes around 5-6 weeks to issue an affirmation that the defendant has been sent a copy on a given date. The debtor is then required to pay the outstanding amount within 2 weeks of receiving the notification from the court. If not paid, your ‘How Do You Get a CCJ’ step is to demand from the court to give a judgement. The judgement makes the debtor agree to the debt and provide a specific time limit within which the debt shall be relieved. Usually, the CCJ notice serves the purpose and one is sparred from going to the ‘judgement’ phase. In order to avoid getting into this process, take expert’s advice to perform CCJ check and validate your debtor accordingly.

4 Things to Consider Before Taking Payment Protection Insurance

No one in the world will deny with the fact that today debt and insurance have become an inseparable part of our finances. Financial firms offer a myriad of reasons to lend loans and likewise, almost everything and anything can be covered under insurance policies which we come across today. Payment protection insurance is an insurance which has proved to be fruitful in prolific measures in the recent times and in the financially turbulent times of today, it is bound to be more popular among the debtors. Insurance for payment protection is nothing but a surety that the loan shall continue to be processed even if the debtor is not able to pay for it, because of some reason or other.

This might sound enticing for every debtor but certain things should be brought into consideration before venturing into the payment protection insurance. The first thing is that the cover is provided only for a stipulated time period. One should not be under the impression that the payment protection shall redeem them on a perennial basis from the responsibility of what they owe. The cover usually can be extended for up to a year. Finding a payment cover for more than that period is going to be really difficult, since it is expected that whatever the problem might be, the debtor shall recover from it at least in a year to start relieving his debt.

The second thing to consider while mulling over payment protection insurance is the fact that the insurers shall revoke the cover offered to you if it happens that you were a student, a retired or self employed person. Falling under any of these categories diminishes your chances of securing the payment insurance to a considerable extent. The third aspect to be brought under considerations while approaching an insurer for payment protection is your health condition. If you suffer from a pre-existing medical ailment like coronary problems, physical disability or diseases like diabetes; then you should not be shocked to hear that your payment insurance application gets quashed.

The final thing which matters while seeking payment protection insurance is your source of income. For example, if you are paid by a firm in lieu of notice, then certain insurers shall deem you ineligible to secure the payment protection. Payment cover is a crucial thing, especially if the debt involves property. However, it should not be used as a tool to shun your debt. This is precisely the main reason why insurers do such a thorough analysis of your finances and follow such stringent measures for doing so. Securing the insurance might sound cumbersome; but it ensures that your debt is fulfilled in the set time period with ease.

Charging Orders – A Powerful Tool for Debt Safety

In today’s financially crumbing world, debt safety has become an important issue. One of the ways to ensure security of the debt is through the charging orders. These orders are nothing but a safeguard against the debt which has been provided, that the debtor is liable to pay for what he owes s per his or her debt. In other words, these orders serve the same purpose as a mortgage serves for a loan against house or land. In apparent sense, these orders are filed by creditors to ensure the safety of the credited amount. These orders are required to be filed in a county court. Before these orders are put into action by the court, a hearing is held in the court wherein there are multiple ways for the debtor to avoid these orders to materialise. That is, the court hears both the side involved in the credit exchange and analyses the feasibility of the order.

The charging orders can be incurred on the debtor by the creditor on basically two grounds. If the debtor has a county court decision against him to pay the debt in one single way or the debtor has defaulted over his instalments to relieve his debt; in both conditions the creditor can call for the order. The standard procedure for getting these orders takes place in 2 phases. In first phase, the court issues an interim order on your application and a hearing takes place usually within 3 weeks. The hearing warns the debtor against dealing against the property which has been tagged by the creditor for order application. The second phase issues the final order which can be challenged by the debtor within a week, under certain conditions.

The court takes into account the reasons put forward by the debtor for proposing the halting of the orders and makes the final decision accordingly. If the debtor manages to convince the court that there is no need for the charging orders, the orders might not materialise for the creditor. Also, if the debtor has more than one outstanding debt, then the court may find it inappropriate to issue the orders for just one creditor since this puts the creditor in prejudiced space.

There are various other grounds which the debtor can use to pitch forward his charging orders halting proposal. This includes separation after divorce, jointly owned properties, health issues, etc. Also, the mode of payment is crucial; that is, if the debtor is entitled to relieve his debt in instalments or otherwise. Hence, the creditor is supposed to have taking all these parameters into his consideration while formulating his application to invoke the order on the amount which he has credited to the debtor.

Are You Filing for Bankruptcy? Have a Look at Some Bankruptcy Myths

At times of unpaid debts, it is advised to take assistance from law firms or financial experts, before seeking any determined measures such as emptying retirement plans, transferring residence, or transferring balance of your credit cards. It is advised to take the help from the experts, as they would be able to tell about some process to get out of such situations rather than filing bankruptcy.

Some of the Myths of Bankruptcy

One of the common myths, which are there in people, is that they will be broke after bankruptcy. A person should get their points clear that, people are not bankrupt even under chapter seven where all the assets are liquefied. A person believing on the facts of being broke must have not gone clear with the process of filing bankruptcy. One must clearly understand that when a person is filing for bankruptcy, they are seeking a safe retreat. Even when a person is bankrupt, you will be left with essential possessions, as courts will not throw you on street.

Another myth of bankruptcy is that you will not be able to find a suitable job. Taking suggestions from a good attorney related to bankruptcy would clear this myth for you. After you have filed for bankruptcy, it will be there in your credit report for few days or years may be, however a company will never pull out your credit report to see if you are bankrupt or not. The companies might check your credit score, but if will never disclose any facts about you being bankrupt.

One of the last myths, which are common in people facing the situation of bankruptcy, is that they will never be able to get a loan or finance in future. The credit companies are eagerly waiting for people filing bankruptcy as they get the chance of offering good credit rates to them. Another point, which you can keep in mind, is that, you will have to suffer only for a while until you build your credit score and start getting the finance from the companies.

Availing More Information about Filing for Bankruptcy

A person, who is filled with dept, requires filing a bankruptcy must get in touch with a good attorney who can help in the process. Before selecting an attorney, doing some research would be feasible as you would be able to find the best of the best for use. There are different websites available, which you can take into use for finding the best bankruptcy attorney. A good attorney would be able to tell you the entire process of bankruptcy and will clear the doubts relating to the myths of bankruptcy. A person should be disheartened while filing for bankruptcy as one can make a fresh start again.

Effectiveness of Debt Relief Orders as a Debt Relief Plan

People always feel embarrassing while discussing their financial conditions. They don’t want to reveal their debts and earnings. It is so because many times discussions lead to comparisons and more often we realize that our decisions could be more effective and profitable. The lack of knowledge and awareness always results in a financial loss. So it is better to discuss with experts and take advice from them which most suitable according to your financial condition.

As we all know that modern life is not possible without credit card, debit cards, loans and mortgages but it is essential to know the most convenient way to fulfill our financial needs. Despite having all the precautions while taking loans, we face difficulties in making bill payments; it is just because financial conditions never remain the same.

Debtrelief plan is the way provided by a creditor to a debt holder who is seeking for some sort of debt relief in an existing loan or mortgage. In a situation when people face difficulties in managing their debt and making bill payments because of insufficient disposable assets, they can communicate with the creditors for a debt relief plan. They can ask for a total or partial forgiveness of debt. Debt relief plan also provide facility to slow down the debt growth or stop the debt growth.

For a better debt relief plan negotiation skill is very important. There are many financial firms which provide assistance for debt relief plan and also play an important role by mediation between their clients and the creditors. They negotiate with the creditors in favor of their clients and try to fulfill their clients’ desired goals by managing a debt relief plan which is most suitable for a client’s perspective.

Let us talk about the worst scenario when an individual or a firm find himself unable to pay the loan amount because of few or no disposable assets in such condition a debtor can file for debt relief orders which is a new form of bankruptcy. In UK, Debt Relief Orders came into existence in 2009. Advantages of Debt Relief Orders are easy filing of application, less process fees, and installment facility in payment of process fees.

An individual or a firm who is unable to pay his bills can ask for a Debt Relief Order even without going to any court by just filing a form and making prescribed process fees fully or in installments. Nowadays, debt relief orders have become very general form of bankruptcy for debt relief. Debt relief orders affect the credit of a person or an organization. A debtor can face problem while borrowing another loan after taking a debt relief order because it shows his previous bad account conditions.