IVA Calculator *Disclaimer
The information provided on the IVA.com website illustration is approximate and should only be used as a guide. Please seek debt advice from an authorised debt solution provider before making a decision on how to best deal with your debt situation. Please read this important information.
Before entering into a debt solution you should ensure that you have considered the implications. Failure to keep up with repayments can result in bankruptcy or legal action. Lenders are not obliged to accept less in settlement of a debt than they are entitled to or to freeze interest or charges. Not all solutions involve debt write off and some solutions may result in the total amount payable increasing, or the period over which it is to be repaid increasing. Debt solutions will affect your credit rating which records all financial activity for 6 years. Conditions apply and each application will be subject to acceptance and eligibility.
An IVA is an agreement that is made with your creditors to pay off your debts over a set period of time and is one option you can use to pay off your debts. It is a formal, legal debt solution. This means it is approved by the court and your creditors have to stick to it.
Check how much you could write off using the IVA calculator above.
You can also check our Advanced IVA calculator here. Advanced IVA calculator