After having a CCJ on your credit record, a CCJ loan is something that can provide you with credit to manage your financial crisis. If you have not paid a Visa, credit, or bill for an extensive stretch of time, the borrowing agency can prosecute you and gives a “County Court Judgment,” also called a CCJ. This recognises that the loan agency needed to prosecute you for recovering their funds even after reminding you repeatedly through phone calls, emails, letters, etc.
The length of CCJ will stay on your credit profile for 6 years and will be:
- Satisfied if the debt is paid off
- Unsatisfied if the debt is yet to be paid off
Numerous direct lenders value that conditions can change and when you have fulfilled your CCJ or are drawing nearer to doing as such and your credit assessment is improving, they can assist you with getting the loan with a CCJ that you are searching for.
How Does a CCJ Loan Perform?
- Bad credit is considered
- No guarantor is required
- No expenses for applying
- Repay within 3 to 6 months
- Quick endorsement
- Direct lender
Who Can Provide a CCJ Loan?
Many direct lenders give you credit regardless of whether you have a CCJ. These incorporate doorsteps advance organisations, online banks are offering momentary advances and low balance credit cards. Another sort of bank you might have the option to get credit from are guarantor loan organisations. You can opt for any of the following after evaluating your financial circumstances in detail:
- No credit check loan
- Doorstep loans
- Low balance credit cards
- Short-term loans
- Guarantor loans
Who Is a Direct Lender?
A direct lender straightway lends you credits while you apply for a loan. The credit amount will concur to your designated bank account after the approval of your loan application. Therefore, CCJ loans from a direct lender in the UK can be beneficial.
What Are the Benefits of Picking Up a Direct Lender?
Your application to a direct lender is typically direct, and you will have complete knowledge of which organisation your documents have been submitted to. An agent may send your documents to other numerous organisations to make out the credit possibilities you’ve requested. Generally, the agents don’t provide the money themselves.
You can likewise contact your lender directly. You can reach them with questions or issues, and they’ll also have the option to reach you if required. The principal benefits of having a direct lender are:
- Rapid Procedure
Speed is significant. By applying with a direct loan specialist, not a loan agent, you dispose of the additional organisation in the process and leave just the essential components – the lender and you.
- Data Security
Guarding your personal details is an absolute necessity. You should carefully read your credit agreement and the organisation’s privacy strategy to see how your information is dealt with. You should give extra attention to any clauses which permit your information to be given to outsiders.
- Management Cost
Somebody needs to pay to the agent and, if the agent isn’t charging you, it implies that they are charging the direct lender who will furnish you with credit. Hence, as with any agent, this causes extra expenses for the lender and may bring additional costs to you as well.
- Client Support
Applying for short-term loans or a spinning credit facility to a direct lender leads you to interact directly to the lender and bring up any issues that you have.
Numerous direct lenders consider your loan application promptly, even if you’re having a County Court Judgement (CCJ). They contemplate that an agency will give you a CCJ quite a while after having issues with them. They will emphasise your present monetary circumstances and reasonableness to settle on a decision. They think about less what happened quite a long ago in the past as circumstances do change any time.
Your credit arrangement will eventually always be with a direct loan specialist. Hence, the actual decision of where to apply, when you need to get cash, regardless of whether you are planning to acquire a short-term loan until your next payday or for a more extended timeframe, will be done directly between the lender and you.
Applying for credit from a direct lender eases the process by giving you complete control of your information in a straightforward manner. Before applying for a CCJ credit, you ought to analyse whether the lender works with a Financial Conduct Authority (FCA) board to safeguard your finances.
Lisa Ann has developed a well-experienced professional career. From managing the staff of more than 50+ loan experts at Fastmoneyfinance to boosting the delivery of various loan offers, she has acquired many challenging roles to come out with the best results for the company. Lisa Ann is a Senior Content Author and the Chief Financial Advisor at Fastmoneyfinance. To back her massive experience in the UK’s financial industry, she has the postgraduate degree and diploma in Business and Finance.