A County Court Judgment loan is a loan that can be obtained by borrowers despite their credit record stained with County Court Judgment against them. A CCJ lender is a company that is ready to take a chance on you repaying back a loan that will be offered to you. Because of the increase in the number of consumers with CCJ’s against their credit rating, numerous companies are offering a CCJ loan in the current market.

The loan amount varies from £300 to £100,000+, with each lender having their own borrowing limits. It also depends on your reason for taking out the loan and the type of loan (secured or unsecured).

As for the loan term, it will be determined by the loan deal you choose and by your lender's usual standards. Normally, CCJ loan is taken out for the period from 12 months to 25 years.

Although you shouldn’t expect to be charged for CCJ loan at standard rates, try to search for the best deals available on the market. Note that you will also have to pay for having your loan arranged, which will add to your expenses. You should also be aware of the fact that sometimes the banks can’t offer you the CCJ loan interest rate they advertize. Almost certainly, they will take into consideration your specific situation, so that the worse trouble you are in - the higher rate you'll be given. Another difficulty many borrowers can encounter when dealing with CCJ loans is that they obtain more than they can afford to pay off. If you have fallen behind with your CCJ loan payments, you incur the risk of legal proceedings which can make you homeless in the long run. Thus, even if you are convinced you can afford to repay a CCJ loan it would be a brilliant idea to consider payment protection insurance.

Of course, you might try asking for advice from a mainstream loan provider to see whether something else can be done in your individual situation. Still, be prepared for the news that a CCJ loan may be your best and only way out for coming clean out of all unsatisfied CCJ pending.


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