IVA examples and calculator

If you are buried in debt and struggling to keep up with your repayments, an IVA could be an option to write off a substantial portion of your debt.

✓   Freeze all interest and charges
✓   Dedicated UK based debt help
✓   One affordable monthly repayment
✓   Become debt-free
✓   Stop the phone calls and letters

Submit your contact details and one of our senior team members will start to help you get out of debt. This service is free, confidential and you're under no obligation to use our services.

If you are living in rented accommodation your IVA will typically last for 5 years. If you are a home owner and there is some ‘equity’ in your house i.e. if the house was sold today there is likely to be a surplus remaining for you after the repayment of the mortgage and costs of sale then your creditors will expect you to try and realise some of this equity in addition to paying income contributions. If it is too expensive or not possible for you to obtain a remortgage to realise equity you will expect to pay 12 additional income contributions meaning that you will pay 72 contributions in total. Use the calculator below to see how your IVA contributions will be used to pay something to your creditors after the costs of the IVA have been paid. It is important to remember that although your creditors may only receive a small amount of the debt which you owe to them you will nevertheless be completely debt-free at the end of your IVA.

The debt write off amount for each customer differs depending upon their individual financial circumstances and is subject to the approval of their creditors. The example provided of 80% has been achieved by 10% of our customers in the last 12 months

The debt write off amount for each customer differs depending upon their individual financial circumstances and is subject to the approval of their creditors. The example provided of 80% has been achieved by 10% of our customers in the last 12 months