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Do I need a CCJ to get my money back?

This is a question we’re asked a lot here at Cobra Financial Solutions. The answer is simple: no, you don’t need a CCJ in order to collect debt.

If your debtor owes you money, but won’t pay, then creditors can apply to the courts for a County Court Judgment, or CCJ. Used in England, Wales and Northern Ireland, a CCJ is a court order registered against debtors if they fail to pay monies owed. Once the CCJ is registered, debtors have 14 days to respond. At this point, the courts will look closely at the debtor’s financial situation and suggest a repayment plan moving forward.

If the debtor’s reason for non-payment is genuine, a repayment plan may be agreed upon without court intervention. Yet sadly, not all debtors are this honest and sincere. And not all debtors wish to prioritise repayment.

Be prepared to wait

Awaiting a CCJ can be a timely and costly process. With estimated delays to the court system now reaching over 18 months, creditors may need to be prepared to wait for justice.

Many creditors forget that receipt of a CCJ doesn’t guarantee immediate repayment. If debtors fail to stick to the terms, creditors will then need to enforce the debt. This may be via bailiff action, a Charging Order or an Attachment of Earnings Order. So in some instances, creditors wait in line for their chance to take their debtor to court; they finally reach the finish line, and then find that even with a CCJ, they’re still not any closer to getting their money back.

There is a quicker debt collection solution

A CCJ is just one option available to you in the debt collection process. But there is a faster and easier way to get your money back.

Established in 2009, Cobra Financial Solutions are a professional debt collection agency who work with creditors across the world. With clients such as New York Mellon, we deliver a truly international debt collection solution. Acting on your behalf, our team of collection agents will visit your debtor, face-to-face, to get your money back.

We uphold our clients’ reputations with integrity and respect. And we’re very proud of our 5* Trustpilot rating and our industry-high success rate of 88%.

Our aim is to ensure our service is transparent from the start. We want our clients to be in control of the collection, every step of the way. You can follow the process live, 24/7, via our exclusive client portal. We’ll ensure any offer put forward by the debtor is yours to either accept or decline. And you’ll be aware of our costing prior to instruction, so you can choose whether or not to proceed with the collection.

The Cobra team believe that debt collection shouldn’t be a long, drawn-out process. It shouldn’t involve mounds of paperwork and excessive legal jargon. Nor should it involve endless toing and froing between numerous parties.

Getting your money back should be fast, stress-free and low-cost.

So if you want your money back in your pocket, call one of the Cobra team on 0151 526 4222 to discuss your case.

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