What Are The Business CCJs Implication

If you own or a looking at starting a business having CCJs (County Court Judgements) can have certain implications some of which we will look at here. Most businesses need finance to buy property tools or stock. Getting the money once you have CCJs is where the problem lies.

Obviously most lenders nowadays use a credit check systems to determine your suitability as a borrower. This is how they work out your risk as a borrower. When they use agencies such as Experian or Equifax the UKs United Kingdoms most used agencies, if you have CCJs then these will be provided to the lenders.

The business implications of CCJs are therefore a lack of lenders that will lend to a business owner with CCjs. However we have identified many lenders that will give loans and mortgages to CCJ customers. The main problem is that the rates offered are higher than the usual low risk lender.

Another implication is that most businesses need a bank to do business from. that's fine if you already have one. But for the first time business person opening a business account when you have CCJs County Court Judgements can be difficult as some banks and building societies will not accept you.

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