I came across these tips on the Ashley Park blog: *link deleted* about IVAs and the pros and cons of them, hope it helps in some way and sorry to hear about your money problems. Advantages: The debtor can continue trade and income towards repayments which protects the individual’s assets. Proposals ...

I think you should come clean to your flatmate: if you do not have any financial ties with him it shouldn't be a problem and he will be less surprised when the bailifs do actually turn up: it also gives him an opportunity to make sure his stuff is not taken, which would be annoying. Good luck with i...

Good luck with it all and remember there is always a solution and you are doing well to act now, rather than let it all get on top of you.