Individual Voluntary Arrangement (IVA)


The term IVA refers to an Individual Voluntary Arrangement. Our IVA calculator helps you estimate your monthly repayments in an IVA. Move the red and green slider controls to get started.

  • Estimate your monthly payment in an IVA

  • How does this work?

    Use our IVA Calculator to estimate how much your monthly payment could be on with an IVA.

    Move slider controls or input your figures and click Next to continue.

    Need debt help? Call us today on 0800 019 2095.

    The IVA Calculator is for guidance.

Considering an IVA?

Before you apply for an IVA, consider both the advantages and disadvantages of this debt solution so you can make an informed decision about your financial future.

Speak to one of our friendly advisors today to see if an IVA is appropriate for you.

Call us today on

0800 019 2095


Disadvantages of an IVA

  • Your credit rating will be adversely affected throughout your IVA and usually, for an additional year after completion.
  • Should the IVA fail, creditors may back date interest on your debts or may request your Supervisor petitions for your bankruptcy.
  • Not all debts can be included in an IVA, such as court-imposed penalties/fines.
  • If you come into any extra money whilst in your IVA, this will be taken into account and you could be expected to pay any windfall into your IVA as well.
  • You may have to downgrade or sell any really high value assets (such as exchanging a luxury car for a more economical one).

Advantages of an IVA

  • An IVA is a way to avoid bankruptcy proceedings and property repossession.
  • An IVA allows you to make one affordable fixed monthly payment.
  • Legal action by your creditors is stopped as long as you make your IVA monthly contribution.
  • The interest on your debts is frozen as at the date of the creditors meeting convened to approve the IVA.
  • Debts included in your IVA could be cleared in 5 years.


Points to consider:

  • Homeowners entering into an IVA should be aware that they will be expected to release any available equity for the benefit of their creditors. Due to credit scoring it may be that the terms of such an arrangement are less favourable. It could also mean that releasing equity is restricted completely and, in protocol compliant cases, the IVA can be extended by a further 12 months.
  • At the start of an IVA an assessment of your income and expenditure items are taken and thereafter reviewed annually. Creditors will require evidence should certain items be considered excessive and if suitable proof cannot be supplied, you will need to reduce your spending in those areas.
  • Acceptance of the IVA lies with the creditors. For an IVA to be accepted, 75% of the voting creditors by debt value must approve, therefore any single creditor with 25% or more of the overall debt level must not reject.
  • There may be other suitable options for dealing with your debts and where this is the case we will make you aware of them. If an IVA is not an appropriate solution for you we will signpost you to the Money Advice Service for advice.
  • An annual financial review of your income and expenditure will take place on each anniversary of the approval of your IVA until completion. This will determine whether you can afford to increase your monthly contributions for the benefit of your creditors. Increases in your living expenses and changes in circumstances are taken into account during this review. There are restrictions on the expenditure of a person who enters into an IVA.
  • There will be no upfront fees charged. The Nominee’s fees and Supervisor’s fees are paid from your agreed monthly contribution. If you became able to repay your debts in full the amount you would pay would include these fees.
  • Entering into an IVA will be entered on a public register.

Why choose us


1,883 new customers helped

Over £11 million in debts written off through IVAs

1,345 IVAs granted


Statistics based on ClearDebt’s performance in 2015.



More IVA pages



Calculate your monthly repayment in an IVA

Use our IVA calculator to find out what your monthly repayments could be in an IVA. Need to speak to an advisor? Call us today on  0800 019 2095
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Updated on 2016-12-05T15:59:58+00:00, by Paul Gailey.