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Debt Management Comparison Tool

This tool instantly compares the likely impact of an IVA or a debt management plan on your debt and your pocket. On loading, random values are being shown. Have a look at how the tool works: Then input your real figures and you’ll get an instant comparison. You might be surprised by the result.

Try the tool both with the interest rates you are paying now, and also with some or all of them set to 0% (It is often possible to negotiate interest freezes in a debt management plan).

Debt Type	Description	£ Amount	APR

Total Debts: £

Debt Management Plan / IVA Comparison
	Debt Mgmt	IVA

Disposable/spare income per month	£240	£240
Debt Management Company fee	(£41)	(£88)
First monthly payment fee	(£240)	n/a

Amount left per month for Creditors	£199	£152

Fast forward into the future...
	Debt Mgmt	IVA
	After 10 yrs	After 5 yrs
Total paid Out	£28,800	£14,400

Creditors received:	£23,705	£9,113
IVA dividend (pence in pound) offer to Creditors in total settlement (subject to acceptance)	n/a	36p in £
Total interest added over 10 years (120 monthly payments):	£26,104	0

And at the end of 10 years (120 monthly payments), you will still owe a total of:	£27,900	0

Creditor Details:
Owed to Example (starting debt £7500) after 10 years (120 monthly payments):	£6,750	0
Owed to Eggplant (starting debt £6250) after 10 years (120 monthly payments):	£12,494	0
Owed to Omelette (starting debt £6500) after 10 years (120 monthly payments):	£4,788	0
Owed to Eggplant (starting debt £5250) after 10 years (120 monthly payments):	£3,867	0


	Even if this calculation shows an IVA to be your best option, creditors are increasingly insisting that people in debt try a debt management plan("DMP") before they go into an IVA – so you may need to consider both. Of course, if you are already in a DMP, this tool will help you see just how well this is performing for you. Please bear in mind that this tool is for general guidance only – we’ll need more detail about your situation if you want specific advice. To get a better idea of your options, complete either the IVA application or request a call from a Debt Management Adviser using the links below and on the right.

Monthly Net Income (take home pay after tax)

Usual Monthly Outgoings (expenditure not including debt repayments)

If you do not have a mortgage, just leave this section.

Mortgage Value:

Mortgage monthly payment:

If you do not have any secured lending, just leave this section.

Secured Lending value:

Secured Lending monthly payment:

Online IVA Application

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IVA illustration suggests that 36 pence in the pound could be available, a level at which an IVA could be achieved, subject to circumstances and creditor acceptance.

With an IVA, if this level of dividend was acceptable to creditors, a total repayment of £240 per month which would include IVA Supervisor and Nominee fees and would run for a period of 5 years.

IVA Total Outlay: £14,400

Debt Management Enquiry
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