bankruptcy or iva urgent advice needed

hi everyone just wondered if someone could offer any advice to relation who has got himself in big money trouble.he currently owes bank 28K in personel loans and overdraft,he is 26 single and takes home 850 pounds per month.the bank adds approx 70 pounds per month in charges .he lives at home with parents who are not in position to help financially and doesnt know what to do.could anyone tell me if he could go bankrupt oweing just one creditor money or would iva be recomended,also if he chose to go b/r could official reciever not allow him to and make him do dmp or iva. thanks for reading this hope someone can help him