I agree with Michael that this sum is a little low for an IVA - you could consider a DRO if you have no assets and disposable income of less than £50 per month.
Have a chat with a couple of firms - Vincent Bond (details under ask experts a question link on the left hand side of the page) will give you some free advice. You could also consider going to see the CAB
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
That level of debt is low for something as drastic as an IVA or DRO for that matter, but this will depend upon much more than that lone figure and the whole picture needs to be looked at, including current domestic circumstances, income, outgoings (affordability) and assets.
Have a chat to a couple of insolvency firms to compare advice and build a better picture for your consideration.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
