Hi Robert and welcome to the Forum.
You should seek some free advice from an insolvency firm to discuss your options. Depending on assets, income and the split of the debts it may be debt management, bankruptcy, IVA, debt relief order or possibly even the sale of assets.
Without more information it is impossible to answer the question but ring an IP firm and they will be able to help. Good luck.
It is important to work out carefully how much you really have left over at the end of each month over the year - have you thought about haircuts, dentist/optical treatment, clothing etc? As any arrangement is based on what you can afford this is the first step. Then as Michaels says depending on your actual circumstances any one of the solutions may be viable for you. Any good company will work out your budget with you, talk through all the options and sicuss with you the implications of each so you can both make the best choice.
Any of the companies on here can help and you can visit www.iva.com to read reviews on these and other companies. You will see on here what other posters have put about the IPs and companies they have used to get a feel for who to ring, and if you're not sure, do ring more than one so you can compare.
Let us know if we can help any futher,
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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A no obligation chat with a professional or two so that you can explore the ins and outs of the options Michael has suggested would certainly do you no harm at all. Accordingly, visit www.iva.com have a look around, read reviews etc and after you have spoken to 2 or 3 people you can then make your next move from there.
23+ years in debt advice
I do not post for anyone other than myself