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Can a student loan from the student loans company that is deducted from your salary be included? Can store cards also be included? If I have a car on a finance scheme and it is up for renewal potentially during the IVA can I take out a new one or I will have no way of getting to and from work?

Hi and welcome to the forum.

All of your unsecured creditors can be and should be included in an IVA - this includes store cards.

A student loan can be included in an IVA, however the Student Loans Company do have the tendancy to reject the proposals if they have more than 25% of the debt. An IP will be able to give you full advice on this when he or she has a better idea of your circumstances.

With regards to the car finance. Is the agreement subject to a balloon payment at the end (a lump sum) or is it a lease agreement?

If it is a balloon payment then it usually possible to refinance the loan in order to continue to make monthly payment to it. If it is a lease agreement, then you would have to negotiate a new deal with the lease company.
In both scenarios it is really up to the finance company whether or not they will do this.

Again an IP will be able to advise you fully on this when he or she has seen a copy of the finance agreement. If an IVA was the best solution for you then neither your chosen IP or your creditors would want to see you without a car if it is the only way for you to get to work.

If the student loan debt represents more than 25% of your aggregate debt, it can be excluded from the IVA so long as this is disclosed to all creditors and that your IP makes them aware of the effects on them.

With regard to the renewal of your car finance, it would be very wise to check this out with the lender to see if they will be prepared to offer you this under IVA conditions.