Student finance and bankruptcy

Rachfarn

I have a few questions about bankruptcy. How will i know how much i will need to pay over the three years? when i filled the forms it it didnt say an amount to pay. Also i receive a student loan, will this be classed as income at all?

TheGardener

The OR makes a decision about whether you will have to pay an IPA (over the 3 years) based on your income and expenditure - after your BR order has been approved, the OR will be in touch with you to discuss your SoA, usually by telephone interview. Has that happened yet?

Rachfarn

yes had the interview today, i asked about the payment but he said he would be in touch about that.

TheGardener

Well based on the info the OR now has from your application and your conversation - they will consider what, if any, payment you should make. If you are asked to may a payment and feel the amount asked for is unreasonable - then come back to the forum with your SoA and we can look at it for you.

silvercar

Your student loan is income even though you (may) have to pay it back.

I'm unsure if the OR can expect an IPA if your only income is the student loan.