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Find out if you qualify for an IVA
Debt Wizard
Compare your options and Find out how much debt you may be able to write off
  • Interest rates and charges frozen
  • Debt free in 60 months or less
  • Legally binding agreement
  • Government approved scheme
  • Peace of mind
  • Protection from creditors

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More about this Calculator
This IVA Calculator is provided by Vincent Bond and Co Ltd.

This IVA calculator is approximate and should only be used as a guide. Please seek professional advice before making a decision on how to best deal with your debt situation.

Try the IVA helpline on 0800 876 0 999 to get professional information on the solutions available. It is recommended that you talk to at least 2 companies before making a decision.
Any use of this iva calculator is conditional on you having read and agreed to our terms and conditions.
What is an IVA?
An IVA is an agreement with your creditors to make a single reduced payment each month which lasts for a sensible period of time (normally 5 years). Once agreed, creditors are not allowed to add further interest or charges to your accounts by law. The agreement is fixed - meaning that creditors can not randomly demand changes to it. The arrangement is governed by the Insolvency Act of 1986. A common misunderstanding is that people think undertaking an IVA is like going Bankrupt. This is not the case. The IVA is specifically designed to avoid the many issues and stigmas surrounding Bankruptcy.

Pros and Cons of IVAs:

  • Debt Free in 5 Years
  • Telephone Calls and Payment Demands Stopped
  • Interest and Late Payment Charges Frozen
  • Single Monthly Payment
  • Repaired Credit Rating
  • Fixed, Legally Binding Agreement
  • Protection from Court Action
  • A Private Agreement
  • Professional Status Unaffected

  • Possible Release of Home Equity
  • Minimum Level of Debt
  • No Unsecured Borrowing During the Arrangement
  • Stick to a regimented regime for 5 years
  • Damaged Credit Rating
  • Longer than Bankruptcy
  • Pay back more than you will in bankruptcy
  • You must include all creditors

For a more in depth look at pros and cons of IVAs then
IVA Pros and Cons click here ...
  • Do I qualify?
  • How much written off?
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  • NOTE:

    An IVA is not for everyone. This calculator will give information on how an IVA could work.

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Reviews for IVA.co.uk
IVA.co.uk is rated 4.9 on a scale of 5 based on on reviewcentre.com.
Latest review:
So Glad We Did It - by , 19/09/2012
5/ 5stars
I have to admit to being less than keen to investigate the idea of an IVA as we had already gone down the route of a DMP with another company but this hadn't worked out. Hubby pushed for an IVA and started the ball rolling, however once we had started the process i soon realised how beneficial this would be. Adam Davies at Vincent Bond was fantastic, he went through the whole process with us fully and explained everyhing thoroughly. We are now almost 2 years in and haven't looked back.

Important Information:
Iva.co.uk does not provide debt advice. You must always seek professional advice before taking any action to resolve your debts. If you use the IVA Calculator or call the IVA Helpline, we will pass on your details or connect you to one of our partners who will contact you and explain all the options available to you. With your permission they can connect you with authorised debt solution providers who can process an application for you

Iva.co.uk does not charge you any fees for use of our forum or the IVA Calculator, however we do get paid by our sponsors and the partners we work with. Our partners charge fees and those vary depending on the partner and the debt solution. Customers should refer to our partners' websites for more information regarding their services.

Before entering into any 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. Your assets and property could be at risk in some solutions. Conditions apply and each application will be subject to acceptance and eligibility.

Terms and conditions