Debt and new mortgage??

patters1978

Hi everyone

Just some advise im gonna bare all I know the problems I'm in and currently starting to pay but wondered if I have options...

Anyway 18k bad debt 3 years unpaid just in the process of speaking to them to start paying due to one threatening court action...
So I'm in a whole load of trouble I know luckily I have the funds now to start paying which makes it easier obviously... But 18k seems a long way away..

Now my question as a family we are growing and moving on like any family but being stopped by past mistakes, we want to move but are credit score is not great and no one will touch us so..

I have close to 40k in my current house and I've been thinking over the past few months that I should sell?

My worry is I wouldn't get a mortgage again?

My plan is sell pay off debt and bank 22k leave it in a few isa's for a year while we rent after a year hope that my credit score is acceptable for a mortgage again?

Anyone think is will work?

kingstreet

Obtain all three versions of your credit file and "roadmap" your future plans and timescale them with an independent broker.

Ask friends and relatives for a recommendation.

You can't provide enough information here to get anything more than a speculative answer, which will err towards caution.