Debt Advice - payment arrangement

alic555

Hi all new here and wish I had visited sooner. 

About 6 months ago I struggled as my rental property was empty and various obligations financially I called two of my credit card companies and asked for support. I stupidly entered into a payment arrangement not understanding the adverse effect. (I know, I know) 

Anyway roll on 6 months and both cards out of the payment arrangement rangements and now paying off hopefully paid off in full by August. (Total of 7,000 debt) 

So my question now is the future at the end of next year were hoping to get an extension on the house (so remortgaging we have around 100,000 equity and the house is 240,000 now I think I've ruined my chances because of my total stupidity I've never had a late payment in my life never missed mortgage payments the flat is now sold. Have I ruined my chances?? 

No cars on finance or any other unsecured debt. Your advice would be so welcome even if it's negative honesty is the best policy

 (Just to add the extension is for 35,000) thanks in advance 

[Deleted User]

Not necessarily. Your LTV is in your favour, although that will worsen if you're taking extra borrowing.

You should use an adverse credit broker, as you're not going to be looking at the market leading rates. You might also want to consider whether to argue for defaults, rather than a year of AP markers.

Also look at what your current lender can offer, as that will be an easier route.

alic555

Thank you I am so annoyed with myself!! I wish I had asked more questions about the credit file impact or thought of a better plan!