IVA Budget Calculator
Enter your income, living costs and debts to see how much could be left to pay towards an IVA, and what share of your debt that would cover. An illustration only.
Income and debts
Include benefits and any partner’s contribution you rely on.
IVAs commonly run for around five years, but the term is set in your proposal.
Your monthly living costs
Your IVA budget (illustration)
Living costs
£1,510.00
Per month
Possible monthly payment
£290.00
Income left after costs
Total over 60 months
£17,400
Share of debt paid over the term
70%
£7,600 left over
An insolvency practitioner decides which living costs are reasonable and what you would pay, using a standard financial statement. This tool does not decide that, and it does not show whether you would qualify for an IVA.
How an IVA budget works
An Individual Voluntary Arrangement (IVA) is a formal agreement to pay part of your debts over a set period, arranged through a licensed insolvency practitioner. The amount you pay is based on the money left after reasonable living costs.
This calculator shows the basic sum so you can understand it before you talk to anyone. It cannot tell you what a practitioner would accept.
Get free advice first
An IVA is a serious commitment with costs and risks. Before deciding, speak to a free debt adviser at MoneyHelper, StepChange, Citizens Advice or National Debtline. They can look at all your options, including ones that do not involve fees.
How to use this calculator
- Enter your monthly income after tax and your total unsecured debts.
- List your monthly living costs.
- Choose a term to illustrate and read how much would be left to pay and what share of your debt it would cover.
How it is calculated
Money left each month = income − living costs (never below zero).
Total over the term = money left × number of months. The share of debt covered = total over the term ÷ total debts, capped at 100%.
Worked example
With £1,800 a month of income, £1,510 of living costs and £25,000 of debts, £290 a month would be left. Over 60 months that is £17,400, which covers 69.6% of the debt and leaves £7,600.
Assumptions and limits
- This is an illustration only. It does not assess whether you can have an IVA, and it does not recommend one.
- In a real IVA, an insolvency practitioner decides which living costs are reasonable and what you pay, using a standard financial statement. Your figures could be different.
- Fees, interest, assets such as your home, and creditor approval are not modelled.
- IVAs are available in England, Wales and Northern Ireland. Scotland has a similar arrangement called a trust deed.
Common questions
Does this tell me if I can get an IVA?
No. It is a budget illustration. Whether an IVA is possible depends on your debts, income, assets and creditors’ agreement.
Why might my real payment be different?
A practitioner assesses your living costs using a standard financial statement and may allow different amounts from the ones you enter. Fees also come out of what you pay.
What if I have no money left after costs?
Speak to a free debt adviser. Other options may suit you better when there is little or no spare income.
Is a longer term cheaper?
Not necessarily. A longer term can mean paying for longer and paying more in total. A practitioner can explain the term in your proposal.
Related calculators
- IVA vs DMP Comparison CalculatorAn illustrative side-by-side of IVA and DMP payments. Not an eligibility check or a recommendation.
- Bankruptcy Budget PlannerPlan a budget for bankruptcy and see what income payments might look like.
- Debt-to-Income Ratio CalculatorYour monthly debt payments as a percentage of your gross income.
- Cost of Living CalculatorAdd up your monthly costs and see what is left from your income.
These calculators give estimates based on the figures you enter and the assumptions listed above. They are not financial advice. Your numbers are worked out in your browser and are not sent to us.
This page provides general information only. It is not personalised financial, legal or tax advice, and rules and figures can change. Your situation is unique — please check official sources such as GOV.UK and MoneyHelper, and speak to a qualified, FCA-authorised debt adviser before making important decisions about your money.