Having a CCJ granted against you can be damaging to your credit rating and impact your chances of being accepted for car finance. This can be incredibly frustrating, especially if you need a loan for urgent reasons.
If you’re currently in need of a new car, the good news is you can still receive car finance with a CCJ – if you ask the right lender. At Albion Car Finance, we work with lenders who are empathetic to all financial situations and can offer you a great car finance deal even if you’ve received a CCJ.
What is a CCJ?
A County Court Judgement (CCJ) is a type of court order that exists in England, Wales and Northern Ireland that can be granted against you if you have failed to repay a debt that you owe. If you’re in debt, debtors have to issue you with a warning letter telling you to repay what you owe before they will pursue applying a CCJ against your name. If you don’t pay off the full amount owed within 30 days, CCJs remain on record for six years. Having this on your credit file can make it difficult for you to obtain car finance and other kinds of loans or credit.
How to Avoid Receiving a CCJ
There are ways to avoid receiving a CCJ before it goes on your record. Once you have received your letter making you aware of the debt you owe, your best option is to speak to a debt adviser. They will be able to help you come to an arrangement with your creditors that can avoid court action. Alternatively, you can also prevent a CCJ from going on your record by paying off the debt within the first 30 days of the CCJ being issued.
Can I Get Car Finance with a CCJ?
With a CCJ on your record, it can be hard to find finance companies that will offer you a good car finance deal. Imagine being without a car for six years and how that could affect your work and personal life. Luckily, with the right finance provider, it’s possible to secure a great car finance deal, even with a CCJ on your record.
At Albion Car Finance, we realise how damaging this could be and the good news is that we can offer a range of bad credit car finance services so that people of all financial backgrounds can secure a car loan. We work with a range of finance providers to secure a great loan from a reputable dealer on your behalf. We can approve car or van finance if you have a CCJ, or if you are:
- In part-time work
- In arrears with their mortgage
- Surviving on State Benefits
- In an Individual Voluntary Arrangement (IVA)
How to Apply for a Vehicle Finance Loan with a CCJ
So now you know that your CCJ isn’t necessarily holding you back from receiving a car loan to get you back on the road, you can seek out your car finance options.
At Albion Car Finance, our finance application is an easy, 3 step process that allows us to provide the best finance package for you. To complete the application you’ll simply need to have some documentation to hand including a:
- Driving licence
- Passport or ID card
- Proof of address (lease agreement or a recent utility bill)
- Proof of income (bank or tax statements
Our finance agreement means you can pay back your hire purchase in manageable monthly repayments. These monthly payments are also a great way to start improving your credit report if you currently have a poor credit rating.
Secure Your Vehicle Finance Loan Today
Whether you have a poor credit score, bad credit history or have received a CCJ, we’re here to help. To find out how we can you help you find car finance with a CCJ or bad credit rating, please call us for a chat on 01923 826137or apply online for finance today.