www.iva.co.uk

Hi

I was wondering if my student loan could be included in an IVA. Also can I have a debit account which doesn't have an overdraft facility during my IVA if it is already set up with no debts?

Hey jenny, welcome to the forum. I don't think student loans can be included but I'm sure the experts will be along to advise you. I'm sure your bank account will be fine. X

Hi Jenny,

I think student loans can be included in an IVA, but not BR.

One of the experts will confirm (or not as they case may be!)

Hi Jenny and welcome.

Student loans can be included but they usually expect a very high return. If this is a large proportion of your debt then it may not be viable.
Your bank account will be fine so long as none of your debts are with the same banking group.
Have you spoken to anyone yet regarding this?

Yes the debt can and should be included in your IVA, but you can expect this company to reject so if they are owed more than 25% of your overall debts then this would force the whole IVA to be rejected.

Thanks for your help

If they are over 25% of the debt you could look to exclude them as long as this is detailed in your proposal along with how you will deal with them. eg if you are currently paying them and you still can afford to pay your other creditors this shouldn't be an issue.
Just remember if you do exclude them you need to give full dsiclosure to other creditors and the student loans company and you must ensure full provision has been made to pay the student loan.