Lump sum student bursary as an asset?

missblue1480

I'm going to court on 23rd to petition for bankruptcy. I'm a full time student and my only income is student loan and NHS bursary (I'm an NHS-funded student).

As part of my course I have to go on regular placements in various hospitals at varying distances from my home. The NHS reimburses travel and accommodation costs associated with these placements and I am due to receive a significant reimbursement of £1185 which I accrued when I needed to pay for accommodation for 6 weeks for my last placement.

I've listed this money in my SOA 'under money owed to me' and had assumed this would be taken as an asset. My housemate however does not think they will be able to claim this money as the OR would not be able to take my student bursary, so they should not be able to claim this reimbursement either.

I'd be interested to hear your thoughts.

stundent

Hi,

I'm currently in a similar position. I was declared on Thursday and I am awaiting the OR contact.

I think it may well be treated as an asset, as any bursary can be to. It is only student loans (ie the repayable element of student finance) that is overtly untouchable (mentioned in the technical manual).

That being said I will be arguing that the remainder of my student finance should be treated as state benefits as it is payed by a secretary of state and as such is a state benefit. (In my reading of the rules)

The insolvency enquiry line however says that any money that is not repayable may be taken I an ipa and subject to surplus income calculation.

I wish you luck and hopefully I am wrong.