IVA Articles
Articles and Information on everything related to IVAs
Student loans and an IVA
At myIVA-Adviser.com we can advise you about how a student loan is considered in an IVA.
In the recent past there has been a great deal of uncertainty about how student loans are treated within an IVA and in some respects that uncertainty about student loans still prevails. At the point of writing this article student loans are being treated in the same way as any other creditor and accepted into an IVA.
If however the student loans company has a share greater than 25% of your total debt they in effect control your debt. In this scenario the student loans company insist on raising the minimum repayment to all creditors to a figure of more than 70 pence in each pound, which is considerably higher than the normal 25 to 40 pence most creditors accept.
The general concensus with the student loans company and IVAs is to treat each case as a case in its own right and seek clarification with the creditor at the outset so that they can take into account determining factors on an individual case basis.
If you need the latest and most current angle on how the student loans company is treating IVA applications call 0800 088 7503 and speak to one of our advisers or leave your details on our quick contact form so that we can call you back.
