Making the most of credit reporting and banking platforms apps to check your
a credit report

Are you putting your credit reporting and banking app to good use?

It has become commonly the case that more people can access their credit reports. Gone are the days when you were required to write to credit reference agencies to find out why a credit or a loan application had been refused. For those that can remember, there was an added waiting time for a written reply to come back from the bank to verify that a CCJ or default had been entered against your credit report.

A most recent Bank of England report has indicated that a significant portion of the population around 60% regularly check their credit reports through either online banking platforms or dedicated credit reporting apps.

What is becoming more apparent is that by accessing these apps, it’s likely that a county court judgement CCJ is likely to be identified as well. If you are an individual, professional, business owner, business practice this will be the time to be concerned. Apart from your credit score plummeting the app will have identified the reason why you have recently been refused a credit, loan, mortgage or subject to a higher rate of interest charge due the existence of a CCJ entered on your credit report.

We’ve noticed a sharp increase in enquiries by clients seeking help with inaccurate or misleading information on a personal or business credit report disclosed via a credit reporting app.

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Fast Action

Upon discovery of the CCJ on your app or banking platform, it’s vital that you respond and take certain procedural steps to have the best possible chance of removing the judgment from your personal or business credit file

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Understand the Court Judgment

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In some cases, the CCJ may not disclose the name of the Claimant. Take steps to connect with the court that issued the judgment and the issue date to obtain the details and the amount that you are required to pay. Obtaining these details will be vital for your next course of action. For example as a business owner, you will be concerned about future opportunities for trading, or  a professional with financial plans that require a credit facility to purchase a car or a home, landlord’s referencing, mobile phone plan. Or you may be a veterinary business practice looking to increase your supplies.  So, what ever your financial prospects, work out from the outset what needs to be done.

Do you agree with the Judgement debt?

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If you do agree, consider how you may repay the debt, within the stipulated time frame provided by the court judgment of 30 days. If the repayment is made beyond the 30 days, you may apply to the court for a Certificate of Satisfaction. However, the CCJ will continue to remain on your credit file for a period of 6 years

If you dispute the judgment, it will be vital to have a valid reason for why think it would be fair to challenge the county court judgment to have it removed. You will be required to consider compiling a defence

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Evidence Gathering

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To support your defence to challenge the judgment debt, collect all relevant evidence, such as mail, proof of payments, proof of address, accounts.

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Negotiations

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Decide whether to enter negotiations with the Claimant, prepare your strategy and consider all options that will potentially increase the likelihood of an agreement to remove the CCJ and prevent any further costs incurrence. For more detailed help on the individual steps for effective negotiations to set aside a CCJ, check out my guide here 

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Apply to the court to set aside a County Court Judgment

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If negotiations are not durable, you must take immediate steps to file an application to the court where the judgment has been made, to set it aside.

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Your application should include

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1. A standard form N244

2. A witness statement which should be detailed explaining the reasons for why the CCJ should be set aside.

3. A draft order for the court to consider.

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We recently worked with a client whose application for a car lease finance had been refused by the finance brokers. The client checked in with his banking app to discover an error had been entered on his personal credit file. The name on the file whilst correct had his personal address registered at his parents address where he had not lived for the past 5 years and a county court judgement CCJ registered against his name.

We have worked with client applications and have understood the need to work with upmost urgency on submitting any application whether an agreement with the Claimant or direct application to the court to remove a default judgment CCJ from a client’s credit file. Frequently the judge will look for why there has been a delay in submitting a defence to court. Failure to so, without credible evidence, your application is likely to be refused at the judge’s discretion.

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For more detailed help on the individual steps to take, check out my guide here on how to set aside a CCJ 

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Court Hearing date

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After the court documents have been filed with the court, you will receive a Notice of Hearing from the court with a court date. You will be required to attend the hearing in person to present your case and the reasons for why the court should grant an order in favour of your application to set aside the Claimant’s CCJ

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Greater prospect of success

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The chief take away from this post is make good use of regularly checking your personal or business credit file via your banking platform or credit reporting app at least every 6 months. It’s a great tool for flagging any   issues of concern on your credit report. By following these steps, you can act quickly, ready to raise any queries with the court with immediate effect and challenge any adverse entry that’s likely decrease your credit score like a default judgment CCJ

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I would encourage you to take the opportunity to strengthen your case where possible, as part of your foundation for success. Remember your goal is to enhance your financial reputation and embrace any tool like a credit reporting app to help you on that journey

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If you would like to share your thoughts, experience or even share this post with someone who may find this helpful. I’d love to hear back from you.