IVA Calculator

Find out if you might qualify for an IVA with our easy-to-use IVA calculator.

Use our IVA calculator to find out if an IVA might be the best way for you to tackle your debts. To find out what your monthly IVA payments might be, talk to one of our debt experts.

Find out if you qualify for an IVA

Answer a few simple questions and we'll let you know if an IVA could be an option for you.

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Please remember, this is just an information tool. We would always recommend you speak to a debt advisor for the most appropriate way to resolve your debt problems.
We'll give you an on-screen recommendation and call you. One of our advisors will be in touch to answer any questions you may have about your results.
Your privacy is important to us. All correspondence is held in the strictest confidence and we will only request information required to find your debt solution.

Apply for an IVA with All About Money

If you have unsecured debts that you can't repay in a reasonable timeframe, an IVA (Individual Voluntary Arrangement) could be the best way forward.

All you have to do is fill in your personal details, and we'll tell you if an IVA might be suitable for you - and if not, we'll let you know what alternative solutions might be available.

How does our IVA calculator work?

Finding the most appropriate debt solution isn't always easy - with all the different options available. Our calculator is designed to be quick and easy and will let you know instantly if you might qualify for an IVA.

All you have to do is follow a few simple steps:

  • Work out how much you owe your unsecured lenders in total
  • Fill in a few details about your situation, such as where you live and your employment status
  • Enter some personal details (which will remain confidential): your name and telephone number
  • You'll be told instantly whether an IVA might be suitable for you
  • If an IVA isn't suitable, we'll let you know what alternatives there may be instead to help you get out of debt.

Remember the result is intended to be a guide only. The right debt solution for you could vary depending on your circumstances. Talk to one of our expert advisers first before making any firm decisions about your debts.

How much debt do I need for an IVA?

IVAs are designed to help people with a significant amount of unsecured debt they can't afford to repay in a realistic amount of time.

If you're seriously struggling with several unsecured debts worth around 15,000 or more, an IVA could be the best way of solving the problem. However, your lenders may agree to an IVA even if you have debts worth less than 15,000, if they think they'll regain a reasonable amount of what you owe in total - and they agree it's the best way of sorting out your debt problems.

An IVA does involve monthly payments, so if you can no longer afford your unsecured debts and can't commit to making repayments over an agreed period of time, bankruptcy could be the most suitable option. Again, getting professional advice will point you in the right direction.

Can I apply for an IVA in Scotland?

IVAs are available exclusively to residents of England, Wales and Northern Ireland. If you're a Scottish resident with several unsecured debts you can't afford to repay over a reasonable period, entering a Trust Deed - generally considered to be the 'Scottish IVA' - could be the answer to your debt problems.

You can speak to an adviser at All About Money to find out more about alternative debt solutions on 0800 195 2911.

What types of debt can I include in an IVA?

An IVA is only suitable for people with unsecured debts they can no longer manage, such as credit cards, overdrafts, personal loans and store cards.

An IVA could, however, indirectly help you with your secured debts, such as your rent/mortgage. This is because your monthly repayments will be designed to fit around payments like these, helping make sure you can safely afford all your essential monthly outgoings.

How much will I have to repay on an IVA?

You'll be expected to make affordable monthly payments - after your essential costs have been covered - on an IVA, usually for a period of five years. These payments will be calculated to be affordable after all your essential outgoings, including your rent/mortgage, food and utilities, have been covered - so you won't be paying more towards your IVA than you can safely afford.

After this time, assuming your IVA is successful, any remaining debts included in your IVA will be written off.

How can I set up an IVA?

An IVA is a legally binding agreement. If an IVA is suitable for you, it has to be set up by an Insolvency Practitioner (IP), who is qualified to act in insolvency cases. They'll work with you to draw up an IVA proposal, outlining how an IVA could help you repay your unsecured debts. Your IVA proposal will then be sent to your lenders.

As long as lenders accounting for 75% of the total debt value agree to your proposal, your IVA will go ahead - and as long as you keep up with your monthly repayments, it cannot fail.

Are there any downsides to entering an IVA?

An IVA is a form of insolvency - and entering one will affect your credit rating for six years. Assuming your IVA lasts the typical five years, that means this could be an issue for one year after your IVA has come to a successful conclusion.

Also, you may have to release equity from any property you own as part of your IVA.

Get expert IVA helpIf you would like more information, talk to our team today.

Speak to an expert debt adviser on:0800 195 2911

Apply for help online

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Subject to eligibility and acceptance. Fees Payable. Debt write off applies only to unsecured debts and on completion of an IVA, alternative solutions may be offered. If your IVA fails, it could lead to Bankruptcy. Your ability to obtain credit will be affected for 6 years. Homeowners may be required to release the equity in their property. Calls may be recorded. Calls to 0800 numbers from BT landlines are usually free, calls from other networks may vary and you should check with your network provider for full details of your service.

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