IVA examples and calculator

We are ready to help now. End the stress of being in debt. An IVA could write off unaffordable debt and put your life back on track.

✓   Write off unaffordable debt
✓   One monthly repayment
✓   Only pay what you can afford
✓   Stop creditor harassment

An IVA may not be suitable in all circumstances. Fees may apply. Entering into an IVA will affect your credit rating. You could write off up to 80% of your debts upon successful completion of an IVA.(10% of our customers wrote off 80% in the last 12 months, with a typical figure of 25%-75%).

See if you are eligible

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