Bad Credit Rating

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Mishap can come at any point of time and people find it really tough to combat with it. Having a label of CCJ is such an embarrassing condition. CCJ means county court judgment which is issued by the county court for solving civil disputes. The reason for its issuing is violation of any contract concerning goods or asset, personal injuries, debt repayment etc. Once CCJ is issued against you; the credit score will be tarnished for the next six years in the society. Moreover, you will be partially discriminated in every area.

The best way to protect the credit is to repay the debt amount within 30 days from the date of issue of CCJ’s. In these situations if you have the asset that can be kept as collateral to the lender for the loan amount, then it would be wise to go for it. Sometimes it happens that the situation is not in your favor then you can still have other options like unsecured loans with CCJ’s. It helps the borrower to take money without pledging any security. The loan amount can be used to repay the fixed debt timely. The loan amount for these loans varies from £1000 to £25,000 with a repayment span of 6 months to 10 years.

For availing the unsecured loans with CCJ’s, a person should posses these key elements:
•    He should be a citizen of U.K.
•    He must be living at his present address since 3 months.
•    He must be above 18 years.
•    He must have a regular job since 6 months.
•    He must have a current bank account.