We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Selling up to buy again with DMP
Options
Joe_bloggs_2
Posts: 1 Newbie
Hi all,
Me and the wife have had our DMP for 7 years now and paying the amount I do We still have 7 years to go. My credit file and my wife's are both really good now as the defaults are gone from when we entered the DMP
We want to sell our S/O house and use some of the equity to pay the remaining balances off on our DMP....BUT at reduced !!!!!! if possible so that we have enough left over to put down as a deposit for a new house. I guess my question is will we be able to offer our creditors say 50% of the remaining balances as !!!!!! if they don't know I have sold the property and say I have just "acquired" some cash?
Otherwise we will stay as we are and pay them off over the next 7 years.
Cheers
Me and the wife have had our DMP for 7 years now and paying the amount I do We still have 7 years to go. My credit file and my wife's are both really good now as the defaults are gone from when we entered the DMP
We want to sell our S/O house and use some of the equity to pay the remaining balances off on our DMP....BUT at reduced !!!!!! if possible so that we have enough left over to put down as a deposit for a new house. I guess my question is will we be able to offer our creditors say 50% of the remaining balances as !!!!!! if they don't know I have sold the property and say I have just "acquired" some cash?
Otherwise we will stay as we are and pay them off over the next 7 years.
Cheers
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.7K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards