credit judgements

ejj

Does anyone know what happens if the credit union gets a judgement against u when you are on social welfare with a mortgage?

cee_jay

Moved from State Benefits - not an issue for there - hope its in the right forum now - if not, apologies mods!

chris85

The judgment itself is nothing more than the courts acknowledging that the debt between you and the creditors is valid. There is no order for payment so nothing changes as such.

What it does do is secures the balance for the CU and also they may enforce the judgment by registering it against your property, getting an installment order for payments or have sheriff call out to repossess goods (this is not common option, banks dont do it often but CU's have been known to use it.

Judgment mortgage has the debt on your property and you would not be able to sell until cleared.

Installment order is more serious that the CU might apply for an order from the court directing how much you have to pay. Non payment of this is treated as contempt so bit more serious.

Being on social welfare a court order may be hard for them to get or they may get a small amount to be paid.

Can you sort something out with the CU to prevent the judgment?

ejj

Thanks for the advice Chris85 ,I will find them a few quid somewhere;