To qualify for an IVA (Individual Voluntary Agreement) you need to have a significant amount of debt. £20,000 is classed as a significant debt.
In addition to this you normally have to have a minimum of 3 different creditors and the debt must be unsecured debt. For example loans, credit cards, store cards and overdrafts would qualify but a mortgage, rent and hire purchase agreements would not.
You also need to be employed or have a regular income, and have disposable income (money left over each month once all living essentials have been paid for), so that you will be able to afford the monthly payments during the period of the IVA.
You need to be determined to keep up repayments at all costs, in order for the IVA to work and to avoid bankruptcy.