I have read somewhere that all debtors should be included for an IVA when you are compiling your statement of accounts, however I have also read that a Student Loan shouldn't be and is paid separately outside of an IVA?
If this is the case, I do not presently earn enough in salary to repay my student loan and can keep deferring which would make sense to do given that the student loan interest rate is low, and it would be better to pay priority debts e.g. into a potential IVA and essential living espenses first?
Unfortunately you cannot now include student loans in an IVA. If you're thinking of an IVA then have a chat with a professional. Visit www.iva.com for a list of companies and reviews and give one or two a ring for some free advice.
Thank you both! My debts are about £19.6k. Minus £2600 from that if not including student loan. So £17k without Student Loan.
The Remedy tool on the Step Change website doesn't seem to be very accurate when I used it because it vastly overstates what I pay out to creditors and also includes student loan as an outgoing payment when it shouldn't be included.
I think it's no wonder I have receive three different recommended solutions each separate time I have tried their tool, and there haven't been many variables in terms of figures.
Why don't you approach an IP directly for specific advice tailored to your own particular circumstances. Computer programmes are unreliable and rarely give an outcome which would be entirely suitable without some form of adjustment. I suspect this may be quicker for you, and at least insolvency practitioners can deal with queries and answer questions at the same time.
