“I am unable to pay a CCJ”

Options for Dealing with a County Court Judgement Debt

If you are unable to pay the judgement debt immediately due to lack of funds, your business is insolvent as the inability to pay a judgement debt is one of the tests of insolvency.
Your options are:

• to ask the Court to include time to pay as part of the judgement;
• to reach agreement with the claimant or their enforcement officers for a payment plan;
• to save the business via a Company Voluntary Arrangement or a Phoenix.

Considering the options normally involves an Options Review to look at the cost, advantages and disadvantages, and likelihood of success of each option.

CALL K2 for a free consultation to consider your options