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Use this loan calculator to work out what your monthly repayments might be for various loan amounts, repayment periods and annual interest rates. This could help decide whether you can afford the repayments, and help you compare different loans. Enter your figures into the top section, then click 'Calculate'. If you want to try different figures you can 'Clear' the form. Please note that this calculator is just a guide. The rates you are offered by lenders will depend upon your individual circumstance.
Loan amount
£
Enter the amount you would like to borrow. Don’t be tempted to borrow more than you need, as you will end up paying much more interest in the long run.
Repayment
period
Choose a monthly amount that you can meet comfortably. Spreading the payments over a longer period generally means a lower monthly outgoing amount but the longer the repayment period the more you will pay overall.
APR
%
APR stands for Annual Percentage Rate.
You should be advised of the APR when you make an application to borrow money. It's the percentage rate which your loan will cost you each year including all charges e.g. annual fees. Where the APR is 'fixed', it means the rate will stay the same throughout the repayment period. Where it says the rate is 'typical', it means that the lender has to offer the quoted rate to at least two thirds of its customers.
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Payments
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Total Repayable £
IVA
 
Thinking about bankruptcy? Stop! You might qualify for an IVA.
An IVA or Individual Voluntary Arrangement is a legal contract between a debtor and his or her creditors. It is instituted when a debtor does not have the financial means of repaying his or her debts. Instead of filing for bankruptcy, the IVA would allow the debtor to pay a percentage of their debt in an easy to manage monthly payment. Most Individual Voluntary Agreements last a minimum of five years and provide the debtor many benefits.

Submitting Details...
Step 1 of 3About your loan
 
 
 
 
 
 

Step 2 of 3About your loan

Is secured on your home. Rates depend on your circumstances; usually lower than an unsecured loan and often more flexible.

Not secured on your home. May not qualify you for the best rates. Applying to a number of lenders may affect your credit score.
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Step 2 of 3About your loan

Based on your information we recommend you speak to a personal debt adviser.

They will offer you advice on:
  • Whether a loan is your best option
  • Consolidating your debts
  • Reducing the amount you owe
  • How to freeze your interest payments
  • Protecting you from creditors

Step 3 of 3Your details
 
 
 
 
 

 
 

Finished


Thank you for your enquiry.

Your adviser will be in touch with you shortly.


First, when you enter into an IVA, the creditors are legally bound to respect the terms of the agreement. This includes putting a freeze on any interest payments that you might owe, as well as any late payments that you would otherwise have been required to pay. Another great advantage to an IVA is the fact that creditors will no longer contact you. That means no more harassing phone calls, emails, or letters in the mail. And best of all, once you complete your IVA you will have repaid all of your debts, leaving your credit in great shape as opposed to the damage your credit will suffer when filing bankruptcy.

Individual Voluntary Agreements are for those residing in England and Wales. However, you must owe at least two creditors and have debt totaling a minimum of £15,000. Those who’ve been approved for an IVA can reduce their debts by up to 85% and will find that a large portion of their current debts may be written off. An IVA is an excellent alternative to filing bankruptcy and has helped many people regain control over their financial situations. If you believe that an IVA is right for you, then contact us today. We’re here to help you.

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Compare all your debt options using our free online debt calculator. Arrow Loans compare secured loans, debt consolidation loans, debt management plans and "IVA" Individual Voluntary Arrangements options.

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