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How are student loans treated in a DRO, IVA or BR?
spacie1977
Posts: 6 Forumite
Hi there,
I accumulated £18000 of debt over the past 10 years through a relationship screwup and being a single mum at university. Part of that debt is a £5000 loan from the student loans company. As the loan was backed by the government and repayments can be deferred until my take home earnings are considerably more than they are at the moment, Is the student loan treated as a normal loan when looking into whether I can apply for a DRO? If it isn't included in calculations I'm guessing I can apply for a DRO as it will knock my overall debt down to £13000 so it'll just include the credit cards and personal loan. But if it is included, I'm wondering what my options are then?
I accumulated £18000 of debt over the past 10 years through a relationship screwup and being a single mum at university. Part of that debt is a £5000 loan from the student loans company. As the loan was backed by the government and repayments can be deferred until my take home earnings are considerably more than they are at the moment, Is the student loan treated as a normal loan when looking into whether I can apply for a DRO? If it isn't included in calculations I'm guessing I can apply for a DRO as it will knock my overall debt down to £13000 so it'll just include the credit cards and personal loan. But if it is included, I'm wondering what my options are then?
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