Student Loans

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Rachel198k

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Post by Rachel198k » Tue Aug 26, 2008 3:58 pm
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Hello

I'm currently in an IVA but my boyfriend is now considering entering into one, as he has left university.

His debts in total (including student loan) equate to over £15,000, but as this didn't affect me as I didn't have any student loans, he was wondering if the student loan part of his debt will be included with his other debts to qualify for an IVA?

Thanks

Rachel
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Viki.W

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Post by Viki.W » Tue Aug 26, 2008 4:17 pm
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Hey Rachel, I believe they can be included but would expect a very high dividend. Do you know how much the student loan debt is?
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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kallis3

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Post by kallis3 » Tue Aug 26, 2008 4:22 pm
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Yes that's right Viki. They can be included in an IVA, but not bankruptcy.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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Rachel198k

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Post by Rachel198k » Tue Aug 26, 2008 4:26 pm
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I'm note sure, he won't tell me concrete figures, but I think his student loan debt is around £10-15k
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Viki.W

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Post by Viki.W » Tue Aug 26, 2008 4:29 pm
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Rachel, if you can, try and find out how much is overall debt is as if it's mainly made up of student loan then he will not be able to do an IVA but please wait for someone who knows more than me to help you. X
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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MelanieGiles

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Post by MelanieGiles » Tue Aug 26, 2008 7:44 pm
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That is unlikely to work as an IVA given the high ratio of student loan debt he is carrying. Is he earning in excess of the repayment threshold yet?
Regards, Melanie Giles, Insolvency Practitioner
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