IVA Articles
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IVA : Can An IVA Include A CCJ ?
A County Court Judgement (CCJ) debt can be included in an Individual Voluntary Arrangement.
The ethic of fair treatment for all unsecured creditors that surrounds an Individual Voluntary Arrangement insists that no one creditor should be given priority over another, even when that priority is a CCJ.
Even though a creditor may have taken steps to recover a debt, and lodged a claim for repayment through a CCJ before an Individual Voluntary Arrangement was sought, the outcome is the same.
Previously arranged payments, including CCJ payments, will stop and the value of those payments will become part of the debtors disposable income.
This means that all the creditors will receive a fair share of what is available through the Individual Voluntary Arrangement.
Contact myIVA-Adviser.com for more information on what debts can be included in an Individual Voluntary Arrangement by calling one of our experienced IVA advisers on 0800 088 7503 now.
After a CCJ has been received, the recipient has 30 days to settle the debt. If the debt is settled with-in this time frame, it is unlikely that the CCJ will appear on any credit file, and ought not damage the recipient's creditability.
However, if the debt hasn't been paid in full after 30 days, the CCJ will be registered against the recipient's credit file and will have an impact on their credit rating.
The CCJ will remain on their credit file for 6 years.
