Hello Julie
You can include student loans in IVAs, HOWEVER it depends on what type of loan you took out, they changed the style of the loans in 1998. Some student loans are now repayable direct from your monthly salary whereas other loans are taken on a direct debit from your bank account, although these are not the only distinguishing features.
If you do want to try to include your student loan in your IVA then the Student Loans Company are currently saying that they will only agree to this if the dividend is high (although they haven't specified a minimum dividend level).
Student loans are special as if you were made bankrupt they would not be a provable debt, this means that they would survive the bankruptcy, i.e. you would still be required to repay this debt.
The best thing for you to do is to discuss it with an advisor or insolvency practitioner as soon as possible. The Student Loans Company are currently asking that we contact them to discuss each case and they will be able to advise on the best thing to do.
Hope this helps
AccumaGroup - A large insolvency practitioner service based in Manchester.
www.accumagroup.com
