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Full & Final.... any advice please.

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Please bare with me,


Its like War & Peace.....


The wife and i are currently on a Interest Only mortgage, we have bad credit and have been trying to re-mortgage to try and get some of the mortgage paid off, We have two young children & no-one will touch us.


We have around 80k equity in the Property at the moment.


I'll do my situation first....


I have been on a DMP with Step change for nearly 10 years, started early 2007.....at first i owed around 27k but now it is down to just over 8k.


After some great advice on here , I CCA'd all my original creditors a few years ago now & came back with the agreements in place, so i just kept paying step change £200pm to divide up between my Six creditors., now i pay them £100pm due to more expense on home life.


So I've been plodding along paying £100PM to six creditors.


The Creditors have sold five of the six debts on....

All Credit cards apart from the Yorkshire one , which was an O/D.

I've rounded the Monthly Payments up.


Halifax - Cabot - £2,900 - paying £22

Barclays - Cabot - £218 - paying £5

MBNA - Link - £1,963 - paying £19

RBS - Wescot - £1981 - paying £31

Lloyds £1,218 - £1,218 - paying £14

Yorkshire - Apex £16.53 - £9


When i've checked my Noddle and Experian , none of the above debts show up on my file ?

Is it because any Defaults i had are now spent ?


Any explanations to this please ?


I rang Cabot up yesterday for a F&F and they knocked £600 of the £2.9 straight away, they say they'll ring me back nxt week to see if i can raise the funds ??


I am looking to make them all offers and can hopefully ?? knock it in half ?? Could anyone please advise.....


We have now been advised to get second charge loan to pay off our outstanding debts , so nxt year we will be able to get on a low interest repayment plan in the future.....


Even if we get this second loan to pay all the debt off , then consolidate the loan into a low interest mortgage , Would that be possible ? After all the debt we currently have, would it all be wiped off our files nxt yr ?


I haven't CCA'd the Agencies that have bought my debts as i know it could take months with all the games they play......

the Second Charge lending company want a decision regarding their loan asap & my financial advisor says no one will touch us for the remortgage in the future if i don't clear this 10 year debt up.


Also i know the Lenders are trying to get people off the Interest Only Mortgages......


My wife is in an agreement to two creditors for around 16k in total, of which one of the accounts is in Default.


Of which one has just been sold onto Cabot.


She will F&F them too, would that do any good ?


One last point, the Lender of the offer of the second loan , was really keen on my DMP , it seemed to all boil down to a couple of missed payments in the past, i just found it strange how my wife debt agreements, default didn't seem to matter, it seemed to be all about my DMP ?


Thanks again.....


I know its very long winded and wrote a bit confusing but we really want to start paying the mortgage off as we are both in our mid 40s and want to think of the kids......



I understand that there are a host of questions here but

Any help on our situation would be greatly appreciated....


Thanks again.

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Wouldn't trust that FA as far as I could kick him

If the debts arnt showing then its none of the mortgage companies business


As for yet more secured credit to clear debts that mostly appear bogus with discounts..I wonder if he is getting a backhander on commission??


Pers I'd be restarting the CCA process


Something's not right


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