Not at all - IVAs were initially brought in primarily with the self-employed in mind, as a solution to allow business owners to carry on trading.
Take advice from an insolvency practitioner who specialises in self-employed cases, and who would be able to explain all of the options available to you in fine detail.
Visit www.iva.com for a list of reputable companies. Alternatively, there are several who post on here - Melanie Giles, Size5, Michael Peoples, to name but a few. Details of them all can be found under the experts link on the left hand side of the page. There are a couple of debt advisors you could phone as well - Andy Davie and VikiW.
They will tell you of all the options open to you and advise as to the best way forward for your circumstances.
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
