Hello Ann and welcome to the forum.
An IVA is an excellent thing to address your debts, I am certainly glad that I chose that route.
However, it is not for everyone and a discussion with a professional will tell you whether or not you are suitable.
On the plus side, it will clear a lot of your debts for you, interest and charges will stop and your creditors won't hassle you. They usually last 5/6 years.
On the downside, you may be required to try and release equity from your property if you own your own house, your credit record will be shot for six years from the date of the IVA and your name will be on the Insolvency Register for the term of the IVA.
Visit
www.iva.com for a list of companies and reviews. Give one or two a ring and you will receive free and impartial advice as to all of the options open to you.
