I was wondering if anyone could advise me.
Back in 2010 I had around £32k of debt (mostly credit cards and and a loan/overdraft).
I lost my job so I stopped paying my debts, as I was no longer in a position to pay them.
Over time I got back into work,
however I was now being offered partial settlements on some of my debts
and because of the massive hole I was in at the time I decieded the best way to clear the debts would be to take up this option and pay a reduced rate.
I typically paid around 33 per cent.
Using this method I cleared all but 1 of my debts by January 2015.
Since the start of the year things have been going well for me in work and I along with my wife have been able to save a deposit for a mortgage.
I then recieved a letter from the last remaing credit card offering a partial settlement on the account of 33 percent.
I decided to take it as I believed it would help me get a mortgage as my credit file would show 0 debt.
However I was aware that the likelyhood was the default and debt would be written off regardless in the next year.
I have now found the company I am applying for the mortgage with belongs to the same organisation I have recently partially settled an account with.
Can anybody advise if I am likely to get a mortgage because of this or should I try an alternative mortgage provider?
Thank you in advance for any advice.