will my credit rating be affected?

My partner and I have had a change in circumstances recently. Unfortunately over the last few years we have racked up quite a bit of credit card debt (£35000ish). At the moment we are just paying the minimum amount each month, and will be about 150 years old before it’s clear.
If we put a debt management plan in place and offer creditors a lower monthly amount and to freeze the interest, it will stay on our credit file for the next 6 years.
Ever the optimist, I am hoping that our situation will improve in that time, and that we will be able to pay the outstanding amount off in full and also move home. How difficult will it be to get a mortgage if the details of a debt recovery plan stay on the credit file?

Many thanks in advance for your time and trouble. If you’re feeling particularly rich and/or generous and would like to pay off the outstanding amount, please do let me know and I’ll forward details of where you should post you cheque 😉 I can assure you that all the money was well spent and a great time had by all. And no, I’d never do it again, the stress is just not worth it.

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