Hey smn87, welcome to the forum. An IVA may be suitable for you but there are other options too. You need to speak to a debt advisor or insolvency practitioner to have all your options explained. If you would like to post a few more details such as: are you a homeowner and is there any equity? how much you can afford towards your debts each month? Any more information will be helpful so that we can advise you further.
Check out www.iva.com where there are numbers for Insolvency Practitioners. Give one or two of them a ring.
Keep posting, we are here for support as well as advice.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
If you only have the three debts you have mentioned, then an IVA may not be the best option for either you or the creditors, given that you have one large debt and two very small ones. It might be better to try and broker a repayment plan with the large creditor, which leaves you sufficient money to pay back to the smaller ones. Or even try and get the smaller ones paid off, so that you can concentrate on tackling the large debt.
