Home > Credit Repair > Can Credit Repair Companies Remove County Court Judgments?
Can Credit Repair Companies Remove County Court Judgments? |
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There is much debate about credit repair
companies: Can they remove CCJs? Can they get the money owed on a CCJ
reduced? The fundamental issue with all credit repair opportunities is whether you received the claim form. If you did, you cannot remove the judgment. However, this is not the end of the matter with most (but not all) credit repair companies. If you are prepared to state that you did not receive the claim form for a reasonable reason, you have grounds for a successful credit repair. Complete a few forms with the credit repair company and make an application to set aside the default judgment. You cannot set aside a CCJ that you knew about, did not pay, but can pay now. However, credit repair companies may correspond with a company that secured a CCJ against you, say, 3 years ago, for $7,000 and offer them, say, $4,000 if they not object to a credit repair and application to set aside the judgment default of their CCJ. If you have paid off a CCJ that is 3 years old the credit repair company cannot use the leverage of paying the creditor some money not to object to the credit repair: the credit repair company relies on the creditor not being bothered to object. Credit repair companies are most effective if you have not paid any money towards the CCJ. If you settle a debt after the first 28 days, the CCJ will not be taken off the register. The file can be marked as "satisfied', if you apply to the court. A further problem can exist on your credit record that is as destructive as a CCJ: a default. If you miss two to three payments of an agreement (hire purchase, lease) the creditor can send you a formal default letter. A CCJ and a default are both regarded as serious information by lenders etc. You cannot pay or satisfy a default: it is just there! An inexperienced clerk at a finance company can send a default to you without any supervision or serious default. The credit repair companies are under immense pressure from government, credit counselors, finance companies and institutions: and of course the main credit reference companies who rely on poor credit ratings to earn profits--at times it is difficult to see who the goodies are! Should someone who went through a very difficult time in the past have the opportunity to correct his or her standing in life before a 6-year term? I know of many such cases where debt had very little to do with recklessness, and more to do with such things as poor health, redundancies etc. Banks and finance companies use computers to sort the good from the bad. With CCJ's lasting 6 years (and the computer treating a 1-month debt the same as a 5 year 11 month debt) the punishment is out of proportion to the crime. The choice is a personal one: to use or not to use. Our peers (governments, representatives, etc.) have been making laws to abide by, and ethics to follow that they at times do not abide by themselves--do you think our peers would use credit repair? Credit repair business will do anything to rid you of a negative credit record, and it must sound inviting to just about everyone in such a situation. What of the "right and wrongs' of this service? The old chestnut from the credit repair company is that the law is there to protect the debtor as well as the creditor: break one of those 320 legally required steps and you have lost your rights. The USA legislation, unlike our UK legislation, seems overburdened with ancillary steps each of which appears to be a potential minefield for the creditor. In the US at present, the legal profession has not entered the credit repair arena, but I am sure it will soon and we will see similar letters to the above that quite simply say, "Your Rights Were Violated, Get The CCJ Removed For $$." Then, all of a sudden credit repair becomes respectable and clean: funny world! |
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