I think it depends on what percentage of your debt that they hold. If it is more than 25% then you may be struggling as they very often vote against IVA's.
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
Yes they should be - but as Jan says they are not often supportive towards IVAs so if they have an influencing vote we normally try to exclude them - with their agreement and that of the other creditors of course.
Are you struggloing financially now, and do you have a student loan? If so, have you reached the salary threshold where you would need to begin repaying it?
I had an IVA approved last week, which included my student loan. My student loan was 23.9% of my overall debt and the Student Loans Company voted against the proposal, but luckily my other creditors all voted for it.
My student loan isnt included with my IVA. It is taken out of my pay each month. I did mention it when we started the IVA process but was told to not include it.
Its now time to start living and to make some some wonderful memories!
Read my blog at http://flow13.blogs.iva.co.uk/ 'Aiming for the finish line'
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
That's obviously why then. They nearly always vote against. As long as you can afford to pay them and the IVA then you should be ok.
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
Kallis, at the minute the sum of money taken from my monthly wages is not a lot really (usually below £20) and we did our I & E so that it showed take home pay (after the student loan.
Its now time to start living and to make some some wonderful memories!
Read my blog at http://flow13.blogs.iva.co.uk/ 'Aiming for the finish line'
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
The Education Bill which is currently going through Parliament is likely to mean student loans cannot be legally included in IVAs. I will update the forum as soon as I know this for definate.
MelanieGiles wrote:
The Education Bill which is currently going through Parliament is likely to mean student loans cannot be legally included in IVAs. I will update the forum as soon as I know this for definate.
Uh-oh! Any idea how quickly this change is likely to happen? I'm worried my IVA Proposal won't be a viable proposition if my Student Loans can't be included in it.
I doubt it will be law before your creditors meeting, so you should be ok.
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
