Glossary
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- Interest Charges on CCJs
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Under normal circumstances, if a lender's claim is upheld by the County Court, the debtor must pay the interest on the debt until the balance is settled. Once the balance is paid, no further interest can be accrued, however, the lender is within their rights to secure a second CCJ to cover the costs incurred to taking the borrower to court in the first place, and furthermore, interest is also payable on this second sum. If a further CCJ is obtained for the interest, then a record of it will be held against the borrower's credit score, so it is wise to avoid this situation as bad credit history will be unnecessarily prolonged.
For tips on how to avoid paying excess interest, please contact one of our advisers.
