Almost all debts can be included, some exceptions are student loans, court fines, or maintenance arrears, child support arrears, debts built up through fraud, debts arising from a personal injury claim or crisis loans.
Once you are made bankrupt your affairs are handled by the official receiver, which is the government’s insolvency department. The official receiver calls you for an interview and assesses your assets and financial circumstances. If you have assets they may be sold to raise money towards your creditors.
A DMP is an informal agreement between you and your creditors. In a DMP you offer to your creditors what you can afford to repay towards your debt after you have paid all your essential outgoings every month. However, you continue to repay this amount until all your debts are cleared, or until your finances have improved to the point where you do not need a DMP any further.
An IVA Is a formal agreement between you and your creditor, and seen as an alternative to bankruptcy. In an IVA you make an offer to your creditors to repay a portion of your debt over a set period, which is generally five years for monthly contribution based IVA's. You can also propose a shorter IVA based on a lump sum offer. If your IVA is approved by your creditors and you successfully pay all the funds you proposed, then at the end of the IVA any balances left on your debts are written off.