If you have high levels of unaffordable debt, and wish to avoid declaring bankruptcy, then you may be thinking about an IVA (Individual Voluntary Arrangement). It is always advised that you seek professional IVA advice as there are a number of potential debt solutions available, and the right one for you can be dependant on a number of different circumstances.
Sadly, not all debts can be included in an IVA as an IVA can only deal with unsecured debts. Unsecured debts include personal loans, credit cards, overdrafts and store cards.