Summary: The borrowers should be glad to know that CCJ loans are about with special feature. Take a convinced decision by clearing all the doubts by reading the article below.
Time can be worse for the people, who are dealt in a situation where they had seen days like zero money in pockets and the dates of pending bills had burst the parameters of nervous breakdown. This is the case with people having a CCJ stamp on the credit file. The term stands for the County Court Judgement, which shows the severe mark of very poor credit history. The lenders take these borrowers as risky borrowers in order to return the amount on time.
People living in the UK can consider themselves lucky, as no one has ever gone empty hands from the backing of the direct lenders. In the recent development, a well-designed new policy called CCJ loans with no guarantor loan from direct lender seems a possibility. The lenders have taken up the major stress of a borrower because to get a loan on this mark is a difficult thing to handle.
How a person gets the mark of CCJ?
When a person is not able to handle the returning procedure in an organised manner and fails to return the amount on time. In addition, when a borrower ignores the reminders from the lenders’ end and does not revert to any of the calls. The lenders file a court order, and court marks the credit score with CCJ stamp. Therefore, irregularity in payment mode can lead to the situation like this.
What should I do to get rid of it?
You must check the followed judgment given by the court. Make sure at the time of hearing in the court you must carry all the essential documents. It will help you to explain the prevailing crisis because of it, the judge may give the decision which satisfies both the parties. With that judgement, plan your monthly budget accordingly so that you can return that amount on time.
Can I apply for any other loan?
The ideal answer should be ‘No’. But if the demand of the situation calls for a loan then you may get the loan approval from the direct lenders. They provide any unsecured borrowing where you do not have to stand under any obligation of presenting a ‘guarantor’. A guarantor is a person who only guarantees the repayment, which is to be made on time and on behalf of the primary borrower. You can avail loans like 12 month, instalment or any unsecured personal loan, which can cover the urgent requirement.
I am also on bad credit report and now CCJ, what to do?
This is the high time you must understand and knuckles down with finances in a better way. You must be prepared for unexpected situations because those occasions will not see how worse your condition is. Anyways, to combat situations like these you can get the guaranteed loans with no credit check feature. On that note, it is important that you should be cautious to apply for it because the lenders might charge high interest rates on the policy.
I have a good income, will that be count?
Yes, that can ace your situation of the intensive interest rates. The whole process of lender’s policy is based on the assurance that amount should be paid on time. Moreover, if you have a good source of income, then lenders can consider giving some relaxation on the high rates.
Follow the three simple guidelines, that’s it
- Recheck and revise the credit score
- First plan, then apply and keep patience until the loan period ends
- Cut down the junk and set your priority towards savings- work hard!
The last call
Things will fall into place when you think with some peace of mind. Like, the direct lenders have introduced the policy to make a way for the borrowers who might be facing worse situation like CCJ.
A borrower can overcome the obstacle of CCJ with the help of loans with no guarantor from the direct lenders. It is a significant situation, which needs to be handling with easy financial solutions.
