CCJ – What Happens After A Judgement In Your Favour?
After you have exhausted all your attempts to recover debts from a company or individual, there is always the final option of taking them to court. For smaller debts business owners opt for the small claims court and this can often result in a judgement issued against the defendant and money being recovered in most cases.
Unfortunately for one in four businesses the amount recovered ends up being less than the amount owing and for an unlucky 6%, no money is received at all. Even if a CCJ is issued against an individual, the cost of recovering money can sometimes be more than the amount owed if the debtor is able to use the current system to their advantage.
According to a report by Consumer Focus, there are “unacceptable deficiencies” in the way judgements are enforced that puts business owners at risk of never receiving the full amount they are owed.
Enforcement proceedings can prove to be complicated with various forms needing to be filled in and issued on time to give the best chance of recovering money or being successful in attempts to recover debt using bailiffs or a freeze on wages and (or) assets.
If you are finding that your efforts to recover debt are proving too complicated or time consuming to handle, contact us today to find out how we can help.