Do you have to pay student loan if you are on an IVA ?

[Marten.ck]

Hi, Im in a joint IVA with my husband and since he transferred from self employed to employed, his student loan has caught up with him and are now taking around £100 per month out of his wages. Do you HAVE to pay this if your on an IVA? Thanks

[Julie]

Hi Marten,

I' would think if the student loan has to be repaid due to income being earned, then this repayment is taken into account when calculating the IVA payments.

Did your husband include the student loan repayments in his I&E form?

[Shining]

Hi, have a word with your IP if this isn't included in your I&E and see if it can be added to make things easier for you.

[Adam Davies]

Hi and welcome

Your IVA payments should be adjusted to take into account the student loan repayments, ask your IP for a new income and expenditure form so that you can calculate your new disposable income

Regards

[Marten.ck]

Hi, thanks for your replies. We didnt include the student loan as we were not paying it at the time of our application and totally forgot about it! We have our annual review this month so will include the student loan this time. Do we need to bring this to their attention as well as our over increased out-goings or will they automatically reduce our IVA payment if they think necessary? Thanks again

[Shining]

Fill in your form as honestly and accurately as possible and they'll conduct the review and hopefully you won't feel the pinch of paying that loan and it can be included. All the best

[Marten.ck]

Thank you very much for your advice [:)]

[MelanieGiles]

The student loan should have been disclosed to your IP and creditors from the outset, and provision made within the IVA proposal for your payments to be reduced in the event that your salary increased past the repayment threshold. How much are your current payments into the IVA - also £100 per month seems very high, are you sure this is correct?

[Marten.ck]

Our IVA payments are £300 per month, with the agreed £140 per month set aside as well for our Tax bill as were both self employed at the time we took our IVA out. The student loan amount varies as my husbands wages vary from month to month, but on average they take £100, you just think its correct as theyre allowed to automatically take it from your wages each month.
Thanks