If you owe a substantial amount of money adding up to over 15,000 then you might consider seeking iva help as a way to pay off your debts. An IVA is a legally binding agreement between the creditors (those you owe money to) and the debtor (which is you). If you seek help with a debt management company they would do all the hard work on your behalf which includes contacting your creditors and seeing if they will agree to you taking an IVA. If so then you would pay one monthly sum of money to your debt management company and they would spread it out between your creditors.

If I wanted to clear my debt I could look into this option and as long as I stuck to the plan and made the monthly agreed payment I would have peace of mind that at the term of the IVA my debts would be cleared off.

Of course there are other alternatives which could include a debt management plan if my debts were lower but again the money held would have to be to 3 creditors or more. A consolidation loan is also another option but this should only be taken with advice as you would be borrowing a sum of money with the aim of paying off all other debts.