Mortgage and dmp

MBlood

Hi
Can anyone help me.
A couple of years ago my wife came clean about a debt problem. We were about £90,000 in debt. One of the creditors was very aggressive and took us to court so I used money from an endowment intended to pay off some of the mortgage. This was a partial settlement and the rest is on a debt management plan. About £47,000.
My problem is that the mortgage ends in 2018 and there is going to be a short fall. At the moment I have about £45,000 in endowments to pay towards it, but I wandered if I could use the money to pay off the debt at a reduced rate. If I did this would I be able to extend my mortgage at the end? If I payed it off my mortgage would I be able to extend at the end with a debt management plan in place?
If My mortgage came to its end and I carried on paying it then what would happen???
My house is about £350,000 and if I used the money to settle debt I would have about £100,000 shortfall. I pay about £1900 a month mortgage.
Can anyone help.
P.s my wife was left with brain damage when our twins were born and they both have cerebral palsy so the house is modified for them. God knows what would happen if we lost our house!

Thrugelmir

Just my thoughts.

Settling the DMP now would at least reset your credit history back to square one. Giving you a few years to at least rebuild it.

Potentially you could use the saving from not having to pay the endowment premium and the DMP. To start reducing your mortgage balance.

There's no guarantees for the future but at least you'd be heading in the right direction. Nearer the time you could explore what options you have available.