County Court Judgement

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County Court Judgement

“You delay, but time will not.” – Benjamin Franklin

A county court judgement (CCJ) may be a symptom of company insolvency.  A county court judgement enables a creditor to put pressure on a company to pay an outstanding debt. Left unpaid, the creditor can apply to have company assets seized or even wind up the company (compulsory liquidation) should the assets not cover the debt. 

To Pay or Not To Pay?

A company that has received notice (a country court summons) of an impending country court judgement must make a response within 14 days by either paying the debt or disputing the debt and attending court.  If after 14 days no response has been made the county court judgement will almost certainly be issued in a default judgement, citing payment terms.

Unfortunately, once a county court judgement is issued its details are kept on the statutory Register of Judgement, Orders and Fines for 6 years (unless paid within a month of CCJ judgement), which credit agencies reference.  Therefore obtaining future credit may be difficult.  Further, where a director has provided a personal guarantee for credit, the directors credit rating may also be affected. 

Call 0121 201 1720 for advise on any aspect of dealing with county court judgements.

Payment

The debt could be paid in full (consider finance) or by reaching an agreement with the creditor to pay it. If a company is unable to pay, the directors may consider a company voluntary agreement (CVA), company administration or company liquidation.  We can help with all of these options being licensed insolvency practitioners.  Please call 0121 201 1720 for advice.

Dispute

An unsuccessful dispute results in the county court judgement being issued with details of payment.  Please call for dispute advice & help as we are insolvency specialists.

Claim against Creditor

It is possible to counter claim against a creditor if it is felt the creditor owes the company.  Ask us.

Other signs of company insolvency: HMRC debt | statutory demand | winding up petition

“You delay, but time will not.” – Benjamin Franklin

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