Defaulting on an unsecured loan or credit card often results in a County Court Judgement or CCJ. This can make borrowing money, such as a personal loan, very difficult. A CCJ stays on a personal credit report for 6 years. However, it remains possible for those with bad credit to get a personal loan.

How a CCJ or County Court Judgement Affects Access to Unsecured Personal Loans

Having a CCJ will make getting an unsecured personal loan difficult. The loan default, denoted by the CCJ, will mean that someone seeking to borrow money will be deemed too high a risk by lenders. Most high street banks will not approve an unsecured personal loan.

Borrowing money is more difficult for those with a CCJ, but not an insurmountable obstacle. There are specialist lenders for bad credit unsecured loans, but it may result in a high APR of about 50-60%. A high APR personal loan will add to personal debt problems and will only serve to exacerbate any financial difficulties.

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