I had a business loan in the past from Business Link with a personal guarantee. As the business went wrong and closed down, they got a county court judgment (CCJ) for the repayment.

I am paying the agreed figure on monthly payments and on time.

How can I adjust this as it is affecting my credit rating?

Mark

A court judgment stays on your credit report for six years from the date it was first registered. It can only be removed sooner if you pay the full amount within one month of the judgment being issued, or if you successfully apply to have it cancelled (or ‘set aside’) if, for example, the judgment was not served correctly. Assuming your judgment is correct, it will not be changed until you have fully repaid it. Then it will be marked ‘satisfied’ and stay on your report until the original six-year period ends. Once the judgment is satisfied it should have less of a detrimental effect on credit applications you make. Things will also improve has time goes by – lenders are far more interested in your recent financial behaviour than something that happened several years ago.