Glossary - C



Certificate of Satisfaction

This certificate is issued by the court to prove that a County Court Judgement (CCJ) or an Attachment of Earnings has been paid. A fee (currently £10) is required.



Collateral

Assets pledged by a borrower to secure a loan or other credit, and subject to seizure in the event of default. also called security.



County Court Judgement [CCJ]

This is a judgement issued in court that orders you to make a payment or payments for an outstanding debt where you have failed to keep the original agreement with the lender and where you have made no attempt to come to any agreement about the repayment of outstanding monies.



Credit Report

A credit report is a record of an individual's past borrowing and repaying, including information about late payments, County Court Judgments and Default notices. 
 

 



Creditor

A person, company or organisation who lends you money. Typically, this would be a bank, building society or a credit card company.