Can you get a loan with a CCJ?
Yes, it is possible, but it is harder to take out finance when you've had a CCJ or history of defaults. This is because lenders will view you as being a riskier customer until you can show that you are reliable at managing your finances and your repayments. A CCJ will stay on your file for six years, so loans will be harder to come by and more expensive until then.
Can you get a car loan with a CCJ?
Again, yes, this is usually possible. However, you might need a guarantor, which is someone who agrees to pay your debt in the event of you not being able to, often a friend or family member.
One thing to bear in mind if you have a CCJ is that borrowing costs such as interest and payment fees are likely to be more expensive. You also may not be able to borrow as much as you would like to. This is because CCJ loan products are a type of bad credit loan. Bad credit loan customers are perceived to be riskier customers by a CCJ loan direct lender and the lender wants to protect themselves from writing out loans that don’t get paid back.
How can I get a loan with a CCJ?
There are specialist CCJ loans available which are designed for people in this situation, along with specialist bad credit lenders such as Cashfloat and Everyday Loans. These loans do not always require a guarantor and they tend to be offered directly from specialist finance providers with expertise in bad credit lending. Alternatively, there are guarantor lenders such as Amigo, Bamboo and George Banco who provide potential routes to borrowing for people with a CCJ.
Can I Get a CCJ Loan with No Guarantor?
Some CCJ loans will require a guarantor to offset the risk to the lender. Others may not require a guarantor but your demonstrable disposable income must be higher. The interest rates will also be higher and the sums available to borrow are likely to be relatively low compared to other applicants.
Why should I use Choose Wisely to get a CCJ Loan?
Choose Wisely provides an informed view on the borrowing options available to you based on your specific financial circumstances. We source details and information from hundreds of lenders to give you a full overarching view of which basic financial products can suit you. Click through to the loan application form to receive an overview of lenders that accepted your loan application. You will also receive the quotes in your inbox.
CCJ Loans FAQs
Yes, personal loans with CCJ history are available online from specialist lenders. You will only need to provide a few details for the lender to carry out an online credit check to see your finance history and credit rating. After this, the lender will either approve or reject your application and make you an offer based on whether you meet their criteria.
You may be able to arrange CCJ loans in as little as 24 hours, depending on the lender and your circumstances.