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MBNA Partial Settlement

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  • fermi
    fermi Posts: 40,542 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
    TimTheBear wrote: »
    So CCCS are saying 5.5 years to complete my mountain of debt, stuck with existing mortgage on a SVR, then + 6 years for a mortgage company to even consider giving me a mortgage.

    So 11.5 years to move home..

    No. Most likely a bit over 6 years, depending on how long it takes creditors to issue defaults. Something they should do within 6 months normally,
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • fermi
    fermi Posts: 40,542 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
    TimTheBear wrote: »
    Fermi - Would the creditor default me anyway then if you went into a DMP?

    I'm confused on what route to take. F+F or DMP.

    If the DMP means that you are breaking your credit agreement, then yes, the creditor is entitled to default you.
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • WRINKLES
    WRINKLES Posts: 817 Forumite
    500 Posts
    Hi tim the bear just a thought might help you understand , type cag into google go to cag it will bring you to the consumer action website look for credit reference agencies and read it will blow your mind
    GRADUATED FIRST CLASS WITH HONORS FROM THE SCHOOL OF HARD KNOCKS RECOMENDED READ IF BY RUDYARD KIPLING
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