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    • battyboimatt
    • By battyboimatt 16th May 19, 8:35 AM
    • 597Posts
    • 241Thanks
    In that place again...Questions
    • #1
    • 16th May 19, 8:35 AM
    In that place again...Questions 16th May 19 at 8:35 AM
    Due to my mental health (Bipolar) and the fact I lost my full-time job, due to my ill health. I find myself in that position again where I am drowning in debt. To try and better myself I enrolled at University so my only income is student loan

    I have spoken to Stepchange and they have again recommended bankruptcy, However, they say I have 722 a month available because they are simply dividing my student loan 8666 by 12. However, I really don't have 722 a month because I get 3 payments across the year of 2888 (September, Jan, April) and when I get them, they quickly go because I have to pay what I owe and save some for car parking, placement etc. My course is 46 weeks a year out of 52.

    I am still waiting to hear about PIP claim, my question is if I do go Bankrupt a second time, will they count my student loan and pip as income, because then if I get pip they will say I have 1000 a month available.
Page 1
    • TripleH
    • By TripleH 16th May 19, 8:43 AM
    • 124 Posts
    • 63 Thanks
    • #2
    • 16th May 19, 8:43 AM
    • #2
    • 16th May 19, 8:43 AM
    I don't know about your student loan etc, but if you go bankrupt, you will speak to a person who is able to consider all circumstances and can be flexible.

    Do bear in mind that if you go bankrupt, you will not have access to credit facilities so cannot use a card to pay in advance and replace when your student loan comes in.

    How much do you owe, there might be other options members here can suggest?
    Wherever you go, whatever you do Richard Marx is right there waiting for you.

    Sweet dreams!
    • battyboimatt
    • By battyboimatt 16th May 19, 3:29 PM
    • 597 Posts
    • 241 Thanks
    • #3
    • 16th May 19, 3:29 PM
    • #3
    • 16th May 19, 3:29 PM
    Hi TripleH,

    Oh, I have looked at other options, I was 26K in debt, luckily a couple of creditors have written off what I owe them, so but others won't which is understandable, so all in all about 23K worth of debt, so its over the 20K for a Debt Relief Order, plus i guess I would have more than 50 spare if they work out my loan divided by 12 month.

    I know I won't have access to credit facilities, but a lot of my accounts have already defaulted. I appreciate your quick response.
    • Momofthree
    • By Momofthree 16th May 19, 7:22 PM
    • 53 Posts
    • 30 Thanks
    • #4
    • 16th May 19, 7:22 PM
    • #4
    • 16th May 19, 7:22 PM
    What are your outgoings?
    • Minkym00
    • By Minkym00 16th May 19, 8:57 PM
    • 88 Posts
    • 35 Thanks
    • #5
    • 16th May 19, 8:57 PM
    • #5
    • 16th May 19, 8:57 PM
    I’m really surprised that StepChange have said this. The OR will consider your income and expenditure and look to claim any surplus, not the whole thing. It would be helpful if your could put up a statement of affairs on your thread and you will be given advice based on that.
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