Is a default the same as a ccj?

Question

Is a default the same as a ccj?

Answer 1

no,  a default happens when you do not pay a loan in the correct timeframe, a ccj is a county court judgement that is used to reclaim the money if you still do not pay. That is worse.

Answer 2

That would depend upon which type of default you are asking about.

A default not only means you have not made your payments and have defaulted on your contract, it can also mean that you received a Default Judgment for failing to appear in court.

A court ordered judgment by default is far worse then a default on a credit card debt that has gone to collections.

One is reported for 7 1/2 yrs (the collections) the other (judgment by default) is listed on your credit report for 7 1/2 yrs or your state statutes which are on average 10 yrs and renewable.

Hope this answers your question.

Answer 3

A judgment means you have been sued in court and lost.

A judgment can usually be renewed forever by the creditor as long as they think there is some hope for collection in the future.

Answer 4

"Default" is when you violate an agreement.  Being in default does not necessarily mean something bad will happen, but it will expose you to possible action.  For instance, you could be in default of a rental contract.  That allows the landlord to evict you, but he is not required to.

CCJ is a judgment against you.  That is the result of the creditor taking action as a result of your default.

Answer 5

A default notice is a letter from your lender stating that you have defaulted on the terms of your credit agreement.  It is recorded with the credit reference agencies as a missed payment.

A County Court Judgement is an order from the court demanding repayment.  If it isn't paid it can result in a charging order on your house (if you own it), an attachment on your wages, or a bailiff warrant being issued.

A CCJ looks worse on your credit history than a default notice.

Answer 6

No, a CCJ is a court judgement. A default is no pay as agreed to.

Answer 7

No they both last six years and with a default it is still possible to get credit or rent a property but with a ccj it is much harder