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
Hi
All unsecured debt is included, however if the debt with the Student Loan Company is higher than 25% of your overall debt then it is most likely that it will be excluded from your IVA, with the agreement of your other creditors,as they are likely to reject an IVA.
Regards
Hi
Your IP probably excluded them for the above reason.
The Student Loan Company will reject unless the dividend is very high[eg 90p].
If they have less than 25% of your overall debt then they will be bound by the IVA if you receive sufficient yes votes.
For info Student Loans even survive bankruptcy
Regards
It may be that they were more than 25% of your total debt?
If so, then as Andy says, they won't be included as the Student Loan Company tend to vote now.
Even if they were not, I doubt you could do anything about it now without it costing you a lot of money.
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
Humm - thanks. The thing is i was told outright that they could not be included - i was never even asked how much it was for. If i had of been, they would have come in much lower than 25% of overall debt. I estimate about 15% would have been s/loans.
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
I went through Vincent Bond as the introducer. I never mentioned then to the IVA company as i put them out of the picture when setting it up. As it happens, i took out the loans in the early 90's and don't earn enough to start paying it back anyway.
You wouldn't be able to do anything about it then.
At least you don't have to start paying them back yet!
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
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
n958g wrote:
Humm - thanks. The thing is i was told outright that they could not be included - i was never even asked how much it was for. If i had of been, they would have come in much lower than 25% of overall debt. I estimate about 15% would have been s/loans.
Who told you that they could not be included?
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
They can't include them in BR, but I would have thought that all IP's would know that if they are less than 25% of your total debt, that they can be included in an IVA.
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
