0203 319 6335CCJsOvercome financial challenges with confidenceWe know CCJs create serious pressure — not just legally, but in your ability to trade, access credit and keep the business moving.0203 319 6335How a CVA worksWhat a judgment doesThe impact of a CCJ on a businessA County Court Judgment can have significant repercussions, and it is worth understanding the various ways it bites before deciding what to do about it.Legal implicationsA CCJ is a legal acknowledgement of debt, and it can lead to further action if it is not addressed promptly. The court has already decided the money is owed; what remains is how it gets paid.Access to creditLenders read a CCJ as a sign of financial instability. The short-term effect is a drop in the credit score; the long-term one is six years on the public record, unless it is paid within a month.Trading and reputationSuppliers and partners check, and may reconsider their terms. Open communication with them is what keeps essential operations going while the judgment is dealt with.A judgment is an admissionA CCJ is a legal acknowledgement of debtPaid inside a month it comes off the register. Left alone it sits there for six years, and everyone who checks your company can see it.Managing a judgmentWhat you can do about itRebuild the creditConsistent, on-time payments that demonstrate financial responsibility, and checking the credit report regularly for accuracy and for improvement as it recovers.Bridge the cashWhere liquidity is the problem rather than solvency, alternative financing — peer-to-peer lending, or bringing in an investor — can carry the business while the judgment is settled.Take advice earlyA judgment rarely arrives on its own. We have a sole duty of care to directors: we address existing CCJs, negotiate with your creditors and handle the strategy for the ones still to come.What we do about itDeal with it before it deals with youWe look at what is behind the judgment — who else is owed, what the company can actually pay, and whether a Company Voluntary Arrangement would settle the lot rather than one creditor at a time.

Creditor negotiation — talking to the people owed money, before the position hardens

Legal representation — our barristers are in the Insolvency Courts weekly

Financial restructuring — a CVA or an organised liquidation, whichever the company can carry

Where a petition has already been issued off the back of it, the clock matters more than the judgment does. Ring us first.How a CVA worksRead more on thisFrom our insight

My business has received a winding up petition

A CCJ often arrives first. The order things happen in once a petition follows it.

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Understanding Company Voluntary Arrangements

The route that settles every creditor at once rather than one judgment at a time.

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Removing a winding up petition

Where a judgment has turned into something worse, this is what gets it withdrawn.

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Talk to us todayIf a petition has been issued against your company, the sooner we know the more there is to work with. Monday to Friday, 9am – 4pm.0203 319 6335Send a messageFastspeed LegalsInsolvency consultancyContactColroger Offices, Lender Lane Mullion, Helston TR12 7AJ0203 319 6335info@fastspeedlegals.co.ukMonday to Friday, 9am – 4pmWhat we doWinding up petitions County Court Judgments Company Voluntary Arrangements Voluntary Liquidations Court representation