This calculator gives a simple illustration based on a standard five-year IVA. It isn't a quote and doesn't take fees, equity or changes in your circumstances into account.
Calculate your illustration
Illustration only. Your actual IVA payment is based on a detailed budget using industry guidelines, and fees are taken from your payments. Creditors must agree to your proposal, so outcomes aren't guaranteed. This tool isn't financial advice.
What counts as essential outgoings?
Include the costs you need to live and work, for your whole household:
- Rent or mortgage, and any secured loan payments
- Council tax, gas, electricity and water
- Food, toiletries and household essentials
- Travel to work, car running costs and insurance
- Childcare, school costs and child maintenance
- Phone, broadband and TV licence
- A modest amount for clothing, health and emergencies
Don't include payments to the unsecured debts you're hoping to include in an IVA.
How to read your results
Monthly surplus is roughly what you might contribute to an IVA each month. Paid in over 60 months is the total contribution over a standard five-year term. Share of debt covered compares that total with what you owe. If it's 100% or close to it, an informal plan may let you repay in full without insolvency.