Find out how much debt you could write off
Answer a few quick questions to see if you qualify for an IVA. This is a free, no-obligation assessment.
Check If You Qualify for an IVA#
An Individual Voluntary Arrangement (IVA) could write off up to 85% of your unsecured debt. Use our free calculator below to check if you qualify and see an estimate of what you could save.
Under the Insolvency Act 1986 (Part VIII), an IVA is a legally binding agreement between you and your creditors. You make affordable monthly payments for 5-6 years, and the remaining debt is written off.
What the Calculator Tells You#
After answering a few questions about your debts and income, you’ll receive:
- Eligibility assessment - Whether you likely meet IVA criteria under current IVA Protocol guidelines
- Estimated monthly payment - Based on your disposable income after essential costs
- Potential debt write-off - How much you could write off after completing your IVA
- Next steps - If you qualify, we connect you with FCA-regulated advisors for a detailed assessment
IVA Eligibility Criteria#
To qualify for an IVA under current guidelines, you typically need:
| Requirement | Minimum |
|---|---|
| Total unsecured debt | £5,000+ |
| Number of creditors | 2 or more |
| Monthly disposable income | £80-100+ after essentials |
| Location | England, Wales, or Northern Ireland |
Example scenario:
Sarah from Manchester owes £18,500 across four creditors: Barclays (£6,200), Capital One (£4,800), Lowell (£4,500), and HMRC for tax credit overpayments (£3,000). Her monthly income is £1,850 after tax. After essential costs of £1,650, she has £200/month disposable.
Using our calculator, Sarah discovers she could:
- Pay £180/month for 60 months (£10,800 total)
- Write off approximately £7,700 of her debt
- Stop creditor contact immediately upon approval
- Freeze all interest charges from day one
Debts You Can Include#
Under the Insolvency Act 1986 s.253, most unsecured debts can be included in an IVA:
Included:
- Credit cards and store cards
- Personal loans and overdrafts
- Payday loans
- Catalogue debts (Very, Littlewoods)
- Council tax arrears
- HMRC debts (tax, National Insurance, tax credit overpayments)
- Utility arrears
- Debts with debt collectors like Lowell or Cabot
Not included:
- Secured loans and mortgages
- Student loans
- Court fines and child maintenance
- Car finance (ongoing HP agreements)
What Happens After the Calculator#
If the calculator indicates you may qualify:
- Free callback - A debt advisor reviews your situation in detail
- Full assessment - They verify your income, expenses, and debts
- IP referral - If suitable, you’re connected with a licensed Insolvency Practitioner regulated by the Insolvency Service
- Proposal preparation - Your IP prepares a formal proposal for creditors
- Creditor vote - 75% by debt value must approve (most do)
The entire process from calculator to IVA approval typically takes 6-8 weeks.
Why Use Our Calculator?#
- No credit check - Using the calculator doesn’t affect your credit score
- Instant results - Get an estimate in under 2 minutes
- No obligation - See your options with no commitment
- FCA-regulated partners - All advisors we work with are authorised by the Financial Conduct Authority
- Free throughout - No upfront fees, ever
Real Examples of IVA Outcomes#
Mark, 42, Birmingham - Owed £32,000 across six creditors after a business failed. Calculated he could afford £280/month. After 5 years, he paid £16,800 total and wrote off over £15,000.
Lisa, 35, Leeds - Owed £14,000 on credit cards and payday loans. Her calculator result showed £120/month was affordable. She wrote off £6,800 and is now debt-free.
David, 51, Bristol - Owed £45,000 including £8,000 to HMRC. Calculated payment of £350/month. Wrote off £24,000 after completing his IVA in 2025.
Frequently Asked Questions#
How does the IVA calculator work?#
Our IVA calculator asks about your total unsecured debt, number of creditors, monthly income, and essential expenses. It then calculates your disposable income and estimates how much debt you could write off through an IVA. The calculation follows the Standard Financial Statement (SFS) guidelines used by all UK debt advisors.
Is the IVA calculator free?#
Yes, completely free. There’s no charge to use the calculator, no obligation, and it won’t affect your credit score. We don’t run credit checks at this stage.
What information do I need for the IVA calculator?#
You’ll need a rough total of your unsecured debts (credit cards, loans, overdrafts), how many different creditors you owe money to, your monthly income after tax, and your essential monthly expenses (rent, utilities, food, transport).
How accurate is the IVA calculator estimate?#
The calculator provides an indicative estimate based on typical IVA terms. Your actual offer depends on individual circumstances, creditor voting, and your Insolvency Practitioner’s assessment. For a formal assessment, speak to a licensed IP after using the calculator.
Next Steps#
Ready to check if you qualify? Use the calculator above - it takes less than 2 minutes.
Want more information first?
- What is an IVA? - Complete guide to how IVAs work
- IVA Pros and Cons - Honest advantages and disadvantages
- IVA Criteria - Full eligibility requirements
- Apply for an IVA - Step-by-step application process
Official Resources#
- Individual Voluntary Arrangements - GOV.UK - Official government guidance
- Find an Insolvency Practitioner - Official IP search
- StepChange - Free, independent debt advice
- National Debtline - Free debt advice helpline