Tuesday, 9 December 2008

County Court Judgments on the increase,

The latest figures from the Registry Trust show a marked increase in the number of CCJ's being issued.

In England and Wales there was a 17.4 percent year on year increase in Q3 2008 to 223,519 - the highest level of CCJ's since Q1 2007. From Q2 2008, this increase represents a 24.8 percent rise.

Actual searches being made increased 14.1 percent year on year with over 8,900 unique searches being made, 71.5 percent of which were done online.

The chairman of the Registry Trust, Malcom Hurlston noted:

We expect a rising level of interest in CCJ information since – in current circumstances – who would be foolish enough to transact without checking the other party for CCJs.

With CCJ's being the most current and updated part of a credit report, it is worth adding all your clients to the free monitoring service as we will send you a free alert by email when there is a CCJ event on a company.

A CCJ is a judgment that a county court issues when someone has failed to pay money that they owe. CCJs are a simple way for creditors to claim the money they're entitled to.

County court judgments (CCJs) stay on the register for six years. The judgment will be removed if it’s paid within a month – if paid later, it can be marked as satisfied.