Pay CCJ within a month or not?

[hedman87]

Hi,
I received a default in 2020 for a loan of 5k, this has now progressed to a CCJ (I have until Monday to pay in full before it’s registered).

My credit file isn’t great as it is, I have 6+ defaults but no ccjs. I would need to beg/borrow to together the 5k to pay in full.

Question is how much impact will taking the CCJ have on my credit file? It’s less than 600 as it is the defaults are due to drop off for another 4-5 years.

My thinking is the CCJ wouldn’t make that much difference other than extending my poor credit score out by a couple of years.

Any thoughts would be great.

Thanks

[atticus]

It won't improve things

[hedman87]

that was my thinking, not great, but it would mean I will have another 2 years on top of what I already have and no change of removing those defaults either. But I always think a CCJ looks worse.

[DE DOGS]

Opinion. £5K in your Bank looks even better, if you are that worried why not negotiate a settlement 10% is reasonable. Long storey, I gave a C/C to a family member, they were going on holiday, grovel to me, well family, so I said once you come back do not let the payment go in arrears, bottom line £6K gave me the card back, I offered just over £600 and settled, never got that back but that's family.