Eeeks, I see you dilema then hoario. You are best to talk to your IP and go through all the possible scenarios.
It is also worth remembering unsecured debts are difficult to enforce. It is likely if you come out of the IVA and dont go BR, then the creditors will pursue you and that wont be fun. But the simple fact is, you cant pay what you havent got. They will most likely go for ccj's (if you're not a home owner) but if your I&E is accurate the judge will see that you cant afford anything so set repayments at the minimum, like £1 a week or something. But you must keep up CCJ orders else bailiffs can start pestering. Then when your situation changes, IE like if you could get that lump sum together - or you get a new job, then you can approach them with new offers. If debts have been sold on, you'll find that F&F's can be made at much less than the value of the original debt - especially if the cred/dca has had little or no return for some time (ie the debt in effect becomes deadlocked). Of course, anyone could force a BR on you - but if you have no equity or assets that is unlikely to happen.
Try not to worry too much. Btw, you can find a lot of information on general debt at
www.debtquestions.co.uk or
www.consumeractiongroup.co.uk - they are both very good for getting questions on F&F's and negoation with creditors/DCA's answered.
