Simon
If you have disposable income of £550 per month, then a £14k settlement is unlikely to be acceptable to creditors - as they will compare your offer to the money you could pay into the IVA on a monthly basis over a five year period - in your case £33,000!
I appreciate that you do not want to enter a lengthy repayment plan, and wonder how long the loans and debts you originally incurred were taken over - perhaps at least five years? I think that you need to put the things you want to achieve into order of priority - just to see where repaying your creditors actually fits.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at
http://www.melaniegiles.com and view my IVA blog at:
http://melaniegiles.blogs.iva.co.uk