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IVA Calculator

Simple IVA Eligibility Test - Who Much Could You Write-Off?

This IVA calculator gives an indication as to whether you qualify for an IVA from you debt level, asset values and disposable income.

IVA Calculator IVA Test
Do You Qualify For An IVA?.
It boils down to how much you owe, what assets you have, what you can afford to pay into the IVA and the stability of your income to enable you to maintain payments. Take our IVA test now.

Some assumptions are made:

  • Where you live
    You live in England, Wales, Northern Ireland or the Isle of Man. You can qualify for an IVA in you live in the Channel Islands, so long as your debts are with mainland creditors. In other words, anywhere in the UK, except Scotland.
  • Number of creditors
    You need to have 3 lines of credit from at least 2 different creditors. For example a credit card and overdraft with the same bank is 2 lines of credit with one creditor.
  • Your financial position
    You need to be struggling to afford the current payments your creditors are demanding from you; and be able to prove this.
  • Debt are all in the same name
    The debts stated are all in the same name. That is, all in your name or all in the joint names of you and your partner. In the case where there is a mix of the two, IVAs are viable, but the rules are more complex. If this applies to you, then include all debts for now. For more information about this see IVA's and Joint Debts.

This IVA calculator tool shows based on your asset, liabilities and ongoing income; whether initial indications are that an IVA, Debt Management Plan or Bankruptcy is the best solution for you.

If you qualify for an IVA, how much you would need to pay back is displayed on the page.

If your don't qualify for an IVA, reasons why are given and the suitability of other options explained.

Disclaimer: this IVA test tool is for guide purposes only. Other factors will influence the most suitable debt solution for; example the stability of your ongoing income. Income and Expenditure would be subject to verification.