Page 1 of 1
Posted: Thu Mar 20, 2008 7:19 pm
by d_w
My wife has been teaching for six years. When she began teaching she was told that her student loans (£14,000) would be paid back for her providing she remained within education for 10 years. However, the outstanding amount has been included in our IVA agreement - is this right?
Posted: Thu Mar 20, 2008 7:24 pm
by Adam Davies
Hi
Yes,all student loans must be included in your IVA,unless all other creditors agree for it to be kept out of the agreement.
Regards
Posted: Sat Apr 05, 2008 6:21 pm
by lsmith1973
i have the creditors meeting on the 8th, however the company representing Student Loans insist that as a government based debt it cannot be included in the IVA. Is this true?
Posted: Sat Apr 05, 2008 6:22 pm
by MelanieGiles
No! But they do have a very high hurdle rate in order to accept the IVA. Which company are representing them, and hom much of the overall debts are they owed>
Posted: Sun Apr 06, 2008 10:05 pm
by lsmith1973
The company is Mckenzie Hall and the student loans (£2755) represents just under 10%, the other 2 main creditors are RBS and Welcome Finance who add up to 81%
Posted: Sun Apr 06, 2008 11:14 pm
by MelanieGiles
The student loan should be included in your IVA and its likely rejection can be outvoted so long as your IP gets in the votes from the other creditors who are generally supportive of IVAs.
Posted: Wed Apr 09, 2008 9:35 pm
by lsmith1973
Approval! 85% of the vote. One thing though, less than 24 hours later McKenzie Hall contact me and once again inform me that the student loan cannot be included in the IVA as it is a "government based debt". Apart from be patient and refer them to the IVA supervisor is there any action i can take?
Posted: Wed Apr 09, 2008 10:36 pm
by MelanieGiles
Let your supervisor sort this out directly with the student loans company.