Advice Needed Please!

Victoria1305

After making a huge mistake and going to a debt management company, the three credit card companies I owe have issued default notices against me. I'm in the process of trying to sell my home to pay them off but can anyone tell me if my credit rating will still be affected for six years even if I can clear all the debts from the sale of my house?

Any advice appreciated.

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UPDATE

After speaking to my current mortgage lender - even if I sell up and pay the debts off, no-one is going to give me another mortgage due to my poor credit rating, I was also advised that renting would be difficult as all reputable letting agents do credit checks. It seems that when you try to get yourself out of the mess you're in, no one's interested - are they trying to get you to declare bankruptcy!! Looks like it going to be a cardboard box or a garden shed for me and the kids then.

fermi

If you clear the debts the defaults can be marked as satisfied, but they will still remain on you credit reference files for 6 years.

While they are there they will harm your credit rating, even when satisfied.

fermi

If you are going to settle the debts, then there is a small possibility that you may be able to negotiate with the creditors to remove the defaults if you do.

Worth a shot anyway.