Student loan

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laura179

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Post by laura179 » Thu Jul 19, 2018 5:29 am
If I am in an IVA, and have been awarded a loan from student finance to start in September, will that be classed as income, and will some of it have to be committed to the IVA? I will still have the part time job that my original IVA payment is based on.

MerlinL14

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Post by MerlinL14 » Thu Jul 19, 2018 12:14 pm
It will be classed as income, however you can off set the balance with an expenditure of the same amount. The loan, I assume, is for 'stuff' you need for Uni? Just inform your IVA company and list what it is going to be used for, books, extra private lessons etc.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues

Foggy

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Post by Foggy » Thu Jul 19, 2018 12:24 pm
laura179 wrote:
If I am in an IVA, and have been awarded a loan from student finance to start in September, will that be classed as income, and will some of it have to be committed to the IVA? I will still have the part time job that my original IVA payment is based on.
Most IP's will offset this against what it is designed for in expenses -- some are more helpful / understanding than others.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
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