How will an IVA affect University?

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daniel437
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by daniel437 » Thu Jun 14, 2018 6:21 am
I'm nearly a year into my iva and I'm planning on going to university. How will this affect my student loans that I need to take out? How would going to university affect paying my iva?
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Foggy
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by Foggy » Thu Jun 14, 2018 6:53 am
Student loans would have to be discussed, in advance, with your IP. Some are allowed on the proviso that they are not due for repayments until many years in the future, but IP's views do differ. The usual "living on credit" scenario would not be allowed.

Regarding the IVA itself, as long as you can keep up the agreed payments it should continue as planned. You may be able to negotiate a reduction if need be, with the agreement of creditors if substantial, but anything much below around £75 per month would, even if acceptable to creditors, make the IVA unviable and it would fail.
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