Without a lot more information it is impossible to judge. A DMP may also be the best option but you would need to seek advice from an IP who can give free advice based on your individual situation. The IP would need to know income, expenditure, assets such as equity, employment details before any proper advice could be given.
I agree with Michael that you need to speak to someone.
Visit www.iva.com, or the experts link on the left hand side of the page where you will find companies and experts who come recommended. Give one or two of them a ring and they will advise you of all your options.
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 are saying you have one credit card and one loan then an IVA is not suitable as you need to have at least three lines of credit for an IVA to be considered. Speak with professional IP's so that you can get individual advice for your circumstances
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
