We've just taken a company to the small claims court, won the entire claim and had the company desperately wanting to settle the claim in cash. It seems all their company credit was stopped by the court judgement - is that usual?
Yes. A county court judgement against you will seriously damage your credit rating. In fact the reason taking a claim to the small claims/county court is so effective if you are battling with a big corporation is that there is a strong incentive to settle before it comes to court.
In article , Harry Bloomfield writes
If they settle within a time limit (30days?) then there will be no record of a judgement against them. I imagine that is what they are trying to avoid.
traders with an unpaid CCJ against them for whatever reason get zero credit rating. The same goes for existing customers no matter how timely they have paid us in the past. We also loose credit insurance against any new invoices raised after being advise of loss of credit rating. I am not familiar with how long they get to pay before all this kicks in.
So yes if they value their credit rating they will be very keen to pay if they have any sense.
Mike
Oy, what is it with you and Chris and the other day our own Medway Highway^H^H^H^HHandywman all saying "loose" when you mean "lose"? Eh, eh?
There's been a rash of this starting more than 20 years ago. It just won't do.
You are quite right I humbly apologise for being so loose with my spelling but as I get older I lose memory of being taught. You shoelace is loose. If you don't stop and tie it, you may lose your shoe!
Mike
Oy! How did you know that? I wear these Clarks shoes and gave up tying the laces. I remember flying from Cambridge once, and did the laces up in the car. They were undone by the time I got to the checkin!
MuddyMike brought next idea :
Thanks, that explains it.
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