County court judgments (CCJs)
A lender can apply for a judgement from the County Court if you don't repay the debt you owe, to get their money back.
This is quite common for parking/driving fines. If you pay the debt back within a month, this won't show in your report. But if you repay after a month, it'll show as 'Satisfied'.
Individual Voluntary Arrangements (IVAs)
An IVA is when a licensed legal professional sets up monthly payments for you to repay your credit. All extra charges and interest are frozen during an IVA, so your debt doesn't grow and you can repay it sooner.
At the end of the agreement, your remaining debt is written off – if you miss one of your repayments, the agreement will be cancelled. You can talk to your bank or lender if you want to arrange an IVA.
Debt relief order (DRO)
If you're struggling to make repayments to debts you owe, you can apply for a DRO through an approved debt adviser.
A DRO normally lasts 12 months if you're eligible and approved. Lenders linked to your debt relief order (DRO) will mark the affected accounts as defaulted. This signals that they’ve closed the account and are no longer chasing you for payments.
To find out more about Debt relief order (DRO), check out the website.
How these affect your score
All of the above can indicate that you’re struggling to pay back the money you owe. Most of this information stays on your report for up to 6 years. The older they are, the less affect they have on your financial situation and credit score.