As Max says you shpould contact an IP firm for some free advice and all questions can be answered taking into account your personal circumstances. However, an IVA be proposed for as little as one creditor in exceptional circumstances and the fact that you have the majority of debt to one creditor is not a bar to proposing one. It would require the agreement of that creditor otherwise it would be rejected so it depends who the creditor is. If you do not meet that creditor's criteria then you do have the option of bankruptcy or debt management so contact an IP firm to discuss your situation. Good luck.
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