IVA Calculator - See if you can do an IVA and how you could write-off.
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IVA Calculator

See if you can do and IVA; and if so, how much you could write off.

A single, affordable payment

Pay what you can each week/month.

Debts significantly reduced

Repay part of your debts to clear them in full.

Interest stopped

No more interest nor charges added.

Transparent advice

All benefits and risks explained in an easy to understand way.

Simple IVA Calculator

This tool shows if you can do an IVA and who much debt, to the pound, you could write-off.

An IVA was the best solution for our family.

IVA calculator

Debt Guardians listened and were non-judgemental.

How does an IVA work?

An IVA (Individual Voluntary Arrangement) is a legal agreement between you and those you owe money (your creditors).

You agree to pay off a percentage of your debt over a given period of time, by means of affordable repayments (normally 60 months).

If you owe more than £6,000, are struggling with payments but can afford at least £80 per month - an IVA may be the right debt solution for you.

Applying For An IVA

When you contact us we will chat about your current situation, including your income, outgoings and debts. This will tell us if an IVA is a good option for you.

Should an IVA be suitable - the next step is to draw up an IVA proposal for consideration by your creditors.

If the proposal is approved all creditors are bound by its terms. All debts are frozen so no more interest or changes can be added.

Being In An IVA

Creditors must not chase you for payments for any of the included debts. So, no more letters, phones calls nor threats of legal action.

Provided you maintain payments - unpaid debt is written off at the end of the IVA, which typically lasts 60 months.

Your expenditure is expected to keep within reasonable guidelines - but you won't be asked to live in poverty.

Debt Includable in an IVA

Most debts can be included and repayments reduced

Loans & Overdrafts

Store & Credit cards

Benefits over payments

HMRC & Council tax arrears

Debts with a Court Judgement

Rent, Gas and Electricity arrears

Catalogues & Buy now – pay later agreements

For other debts contact Debt Guardians for clarification

Unsecured debts only. Certain debts cannot be included in an IVA such as; criminal court fines; debts obtained by fraud; child support arrears and most student loans.

Debt Solution Example

Savings possible from a typical IVA

Before: applicant currently pays £380/m towards debts, which are:

Personal Loan(s)£7,000
Credit Card(s)£5,000
Other includable debts£6,000
Total Current Debts£20,500
Further interest & charges while repaying these debts over several years could be say...£4,000+
Cost to Clear Debts£24,500+

After: applicant can afford £130/m towards debts, then:-

Current payments


*IVA payments

IVA payments£130 * 60 months
Cost To Clear Debts£7,800
Total Saving£16,700
Repaid %32%
*Payment levels depend on affordability of the individual applicant and are subject to creditor acceptance.

IVA Fees

It is free to set up an IVA with Debt Guardians.
We do not charge any upfront fees for drafting and submitting your IVA Proposal. We only put an IVA case forward if we believe it will be a successful one for both you and your creditors. Even if your IVA proposal is unsuccessful, you will not be charged a penny.

The fees for an IVA are all set by the creditors, no matter which IVA provider you use.

All fees are taken out of your affordable monthly payment or from your agreed lump sum payment, so you will never be asked for additional fees or receive a bill from us. See More About IVA Fees.

Unsecured debts only. An IVA should only be considered in extreme circumstances as failure to adhere could result in bankruptcy. Terms & Conditions apply.

Available in England and Wales only. Subject to creditor acceptance.

See IVA Benefits and Considerations to take into account before entering into an Individual Voluntary Arrangement.

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