settlement figures and using equity

Tuscan

Hi all

we now have quite a large amount of equity in our property and i am now thinking that it may be best to try to use it to pay off my debt.

i owe about 60k and have been on a CCCS dmp for 2yrs and now pay £573 per month. i have payed about 12k off, but i dont know how much longer my crediters will except the payment plan, and i have one already starting to get itchy feet...

i have herd of crediters giving large discouts for paying debts off so would like to here from anyone that has done this, i am thinking it maybe worth using the equity to pay them off if i could reduce them a fair bit which may also give me a lower monthly payment, thats if i able to get a re-mortage whilst being on a dmp..

as a second note my wife is expecting a baby in December and this wasnt planed but we are happy about it all the same, except it will add a finacial burden to us as my wife is self employed so wont be working full time so we will be loosing some income plus having to spend extra on baby goods, and with a baby i really dont want the worry and stress of not knowing whats about to happen next with the crediters etc..

i figure if property still rises at a normal rate, in five years ill have the equity back again anyway, and at some time i think we want to move further out in the sticks and try to get a bigger house for the same money ours is worth, so would have fair deposit back in equity by then..

regards
Tuscan