Adjudication

In credit terms, adjudication usually refers to the action of a judge making a decision to bankrupt someone, based on the facts presented to him or her, and coming to the conclusion that the person cannot continue to pay their debts as they fall due.

Adjudication is also a term used in the giving or pronouncing of a County Court Judgment, High Court Judgment or Scottish Decree, i.e. the decision of the Court.

Upon adjudication, the information will be subsequently reported via Registry Trust to the credit reference agencies, ensuring that it is displayed on your credit report.

In wider legal parlance, adjudication is the pronouncement of a judge of a decision in Court.

In Scotland, the legal process of Adjudication for Debt is a long established process, first enacted in 1672, that allows someone who is owed money, and who has gone to court and has obtained a Scottish Decree, the ability to take security over a property, usually land. Unless the debt is repaid, the person owed money can obtain ownership after 10 years. In 2007 it was decided to abolish Adjudication – sometimes called Adjudication in Debt – and a replacement law remains to be put into place.

Our verdict

As far as most lenders are concerned, having any court information on a credit report is a serious black mark. It will often mean that most lenders will not lend to you, other than certain sub-prime credit providers.

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Adjudication