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.
We want to sell our S/O house and use some of the equity to pay the remaining balances off....BUT at reduced FFS 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 FFS 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.