what next?

times_ticking

hi everyone,new to this site but not to debt sorry to say but can someone help advise..i have debts of £14000 which is paid through payplan also a loan of £7000 to rbs a mortgage of £77000 as i and my wife are on a fairly low income we struggle to get by month to month and after looking it in depth we will spend the rest of our lives like this (which we dont want)there is no chance of us remortgageing to clear these debts as we do not earn enough and are now on a bad creditors list ,my only thought is as we have a good amount of equity in our property would it be a good idea to sell to clear these debts ?and move to rented property any thoughts or advice would be most welcome,also has anyone done this with success?
thanks

southernscouser

Welcome to MSE TT!

Well selling up would be my last port of call but lets see if we can help.

Post a full SOA (state of affairs) and we will see where we might be able to save you some money.

Have a look at this thread for a guide!

Can I ask why your loan wasn't included in your DMP with Payplan?

THE_LONE_RANGER_4

selling is the last port of call i owed 38,000 we lived in a house in the village had some equity in it ...any way we were offerd a house on the local estate an old keepers cottage at a very cheap rent , we cleared half our debts in one quick sweep we will take another 24months paying the rest off we entered in to repayment programme with the creditors,the money we had from sale of house paid of biggest debts so thats the way weve done it ok for us but we still live where we want and have a secure tennancies ie once your in the estate house as long as you pay your rent you can stay forever