Don’t get terrified if you have received a CCJ. You can easily take care of your financial needs as there are various financing options available after receiving them. 

A CCJ stands for the county court judgment issued by a court and is given to individuals who have failed to repay their debts. This is an action that a creditor takes if you don’t recompense their borrowed money. They often call them a bad debtor who doesn’t repay their owed money.

Before a court verdict, the creditor intimates the defaulter and sends them several warning letters to settle everything outside the court. If the person keeps neglecting them, they finally receive a CCJ. This badly impacts their finances, and they often struggle to get credit until the time CCJ hangs in their lives.

Fortunately, there are ways to arrange credit from various sources with a CCJ. You can apply for CCJ payday loans from a direct lender if you have received them. A direct lending source can keep you afloat during financial emergencies, and you can go for this option in case you are struggling with emergency funding.

What are the credit options available for a person who receives a CCJ?

Receiving a CCJ has its own challenges. Your credit scores go at the lowest, and the court can issue several orders to collect the money from you. 

This might be embarrassing for the family and you. You don’t get credit from any sources, and acquiring credit from mortgages, loans, and credit cards gets tricky after receiving a CCJ.

Getting a loan with a CCJ is difficult, but luckily, you can apply for CCJ loans to meet your fund’s requirements. There will be some legal and financial requirements that you will have to follow to avail of this loan successfully.

Below are some more financing options that can be opted with a CCJ.

Direct lending

Many direct lenders are ready to lend money to individuals who have received a CCJ. Reach out to the most reliable one who will lend you money without including any third party. The most preferred funding option is the CCJ payday loan from a direct lender.

Some lenders charge a high rate of interest, and some charge moderately with short repayment terms. Finding the right one is your job, and do it by researching deeply and picking one whose terms are suitable according to your present circumstances.

Credit broker

Credit brokers are individuals who have in-depth knowledge of various sorts of loans. Also, they have numerous contacts and sources that can help you acquire a loan.

They will help you get approval in your loan application, even with a CCJ. Using them for arranging finances is very easy. Please keep a note that they might charge you hugely as they take a commission for doing this work.

Doorstep loans

Doorstep loans are another way to acquire a loan with a CCJ. You just need to contact a credible company, and they will lend come to your residence and do all the paperwork from there.

Once your loan is sanctioned, you get the required money instantly. They also collect repayments from your home once the loan is expended. But this process might be stressful for many if they fail with the repayments.

No guarantor loans

After receiving a CCJ, your credit reports become adversely poor, and with such a rating, no reputed lender gives you money as borrowing. A no guarantor loan is designed for people who have bad credit reports and those who can’t find any cosigner for the loan.

In this loan, you are not required to bring any guarantor to avail of it. These loans are given for a shorter period with a high rate of interest.

A no guarantor loan is suitable for when you need immediate cash. If you are convinced that you will pay it off within the timeline, you can opt for it.

Short-term loans

Many online sources offer short-term loans for individuals having a CCJ. As the name indicates, short-term loans are generally repaid in a brief time period, and it generally ranges from 1 month to 1 year.

The most beneficial feature of this loan is that you receive the money within one or two hours once your application gets approved. But the rate of interest charged on this loan is relatively higher. Therefore, learn every aspect of this loan before opting for it. 

Parting thoughts

Many lenders don’t provide money to individuals having CCJ. This is because a CCJ marks a big stain in your financial record where you can be perceived as a loan defaulter. 

Not being able to manage finances will pose grave money concerns in your life. Here your only resolution is CCJ payday loans from a direct lender. 

A direct lending option can keep you moving during financial emergencies. The entire process of loan is done very swiftly, followed by the instant disbursal of payment.

The best way to minimize the effect of CCJ is to pay back the amount you owe to your creditors. Once you pay it back, a CCJ gets removed from your financial history after six years.

If you don’t want to ruin your credit history with it, then try settling this matter outside the court through communication and your convincing power.

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