| T O P I C R E V I E W |
| b_n |
Posted - 23 August 2008 : 17:29:13
I have a student loan with a high street bank (not with the student loan company). Will I still need to repay this loan after I become bankrupt?
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| 8 L A T E S T R E P L I E S (Newest First) |
| 369 |
Posted - 26 August 2008 : 16:37:13
Hi B-N,
I had a Professional Development Loan with HSBC to help me pay for my Masters that I did at uni, and this was taken on by the bankruptcy.
I think yours will also be included....
Its a shame that actual Student Loans are not included, I should have gone bankrupt 4 years ago when they still were!!!
Thanks |
| b_n |
Posted - 26 August 2008 : 16:04:09
Hi and thanks for the input ...
Just to clarify ...
The loan is a so-called "professional development loan" thru Natwest (not to be confused with career development loans you can get from some other banks).
The terms of this professional development loan stipulate that you start paying it back 6 months after your course ends, regardless of how much you are earning at that time; so there is no minimum earning rule as with SLC loans where you only start your SLC repayments when you earn £15,000 per year.
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| John |
Posted - 24 August 2008 : 16:22:03
Hi
a bank loan taken out by a student, not underwritten by the government,. is not a student loan. It's a personal loan taken out by someone who happens to be a student.
Therefore written off in BR.
SLC loans and high street loans underwritten by the Govt are not written off.
So the point is, is the loan a student loan or a personal loan taken out by a student.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
| Needafriend |
Posted - 24 August 2008 : 14:43:54
Hi Ann,
Lets see. It would be nice to know more as we are all in the same boat so to speak.
Sheenac,
If you read this why not give us a run down on somethings about you and what brought you to this site.
Take care and enjoy.
Jo
"There is light at the end of the tunnel, if you cant find it, get a brighter torch!"
You can read my blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/2008/08/24/my-debt-free-future/ |
| ann.s |
Posted - 24 August 2008 : 14:41:48
Yeah I noticed that Jo it looks like we have a new expert, maybe she'll lets us know a bit about herself and her experiences.
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| Needafriend |
Posted - 24 August 2008 : 14:37:31
Wow John we have a new member who is up on there stuff. They are teaching us so much today.
I dont know why they have not gone for expert status as that would make sense surely.
Welcome Sheenac and thanks for your replies and advice.
JO
"There is light at the end of the tunnel, if you cant find it, get a brighter torch!"
You can read my blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/2008/08/24/my-debt-free-future/ |
| sheenac |
Posted - 24 August 2008 : 14:09:42
quote:
Originally posted by John
Hi b n
yes you will have to repay the loan as student loans, fines and child maintenance or not captured in bankruptcy.
www.Bankruptcyhelp.org.uk
0800 078 9367
I'm sorry but this is completely wrong. Only SLC loands come outside bankruptcy procedures. Bank loans taken out by students from high street banks are covered by it. |
| John |
Posted - 23 August 2008 : 17:59:48
Hi b n
yes you will have to repay the loan as student loans, fines and child maintenance or not captured in bankruptcy.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
