student loans

[d_w]

My wife has been teaching for six years. When she began teaching she was told that her student loans (£14,000) would be paid back for her providing she remained within education for 10 years. However, the outstanding amount has been included in our IVA agreement - is this right?

[Adam Davies]

Hi
Yes,all student loans must be included in your IVA,unless all other creditors agree for it to be kept out of the agreement.
Regards

[lsmith1973]

i have the creditors meeting on the 8th, however the company representing Student Loans insist that as a government based debt it cannot be included in the IVA. Is this true?

[MelanieGiles]

No! But they do have a very high hurdle rate in order to accept the IVA. Which company are representing them, and hom much of the overall debts are they owed>

[lsmith1973]

The company is Mckenzie Hall and the student loans (£2755) represents just under 10%, the other 2 main creditors are RBS and Welcome Finance who add up to 81%

[MelanieGiles]

The student loan should be included in your IVA and its likely rejection can be outvoted so long as your IP gets in the votes from the other creditors who are generally supportive of IVAs.

[lsmith1973]

Approval! 85% of the vote. One thing though, less than 24 hours later McKenzie Hall contact me and once again inform me that the student loan cannot be included in the IVA as it is a "government based debt". Apart from be patient and refer them to the IVA supervisor is there any action i can take?

[MelanieGiles]

Let your supervisor sort this out directly with the student loans company.