While it can be difficult for families to stay on top of all of their debts, it is vital that they do so because failing to do so can cause them significant trouble. With debt judgments on the rise, many families are receiving county court judgments (CCJs) and this is having a big impact on the way families live their life.
The upshot of these CCJs is that many families have found that they have had to sell up their homes or sell-out their business. The worrying thing is that these rulings have been imposed on people with no opportunity to content the findings. This is something that is extremely worrying, and many people will be looking for more information on these judgements and the impact they can have on a person’s life.
With debt judgments on the rise, be alert
It turns out that utility firms, banks and companies who operate in the murky world of parking bills and fines, are picking up these judgements. A CCJ can be obtained for a debt as small as a penny, so it is not as if you have to be in massive debt to suffer from this style of crackdown. There is a growing awareness about these problems and the Ministry of Justice has promised to launch an investigation. For a while it seems as though PPIs have been the main thing for people to get angry about with respect to finances but with debt judgments on the rise, there may be a new cause for people to rally again.
One highly annoying story came with a newlywed couple being forced to sell their new home. They received a CCJ in relation to a water bill which had been sent to the groom’s former residency and not passed on. There have also been a number of disputed or incorrect parking tickets which have resulted in huge losses for people at the centre of the controversy.
With over 2,000 judgments being signed off on a daily basis, the volume of CCJs in the UK is rising all the time. In fact, they have risen by over a third in the past 3 years. It turns out that close to 900,000 were issued in the United Kingdom in 2015 and 85% of these CCJs were uncontested.
It has always been important for people to keep a close eye on their debt and finances but now, it is more vital than ever before.