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| T O P I C R E V I E W |
| dazed and confused |
Posted - 24 November 2008 : 15:38:57
Dear Forum
Just a quick question - why are Student Loans classed as a Secured Creditor and not Unsecured?
I thought that a Secured Creditor related to something 'material', such as a house, car etc.?
Just a thought... |
| 4 L A T E S T R E P L I E S (Newest First) |
| dazed and confused |
Posted - 24 November 2008 : 16:35:00
Hi John!
Ok thanks - that clears it up now in my mind!
Thanks again! |
| John |
Posted - 24 November 2008 : 16:32:01
Hi
technically no, and it was me that advised you to put it there. The reason being it will support the fact, by way of additional detail, that you will be claiming a monthly allowance in order to make the loan repayments.
So it's there for information for the OR, but technically not a secured loan.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
| dazed and confused |
Posted - 24 November 2008 : 16:28:37
Hi John!
Thanks for your reply!
I was told on here to put SL's down in the Secured Creditor Section.
Is this not correct? |
| John |
Posted - 24 November 2008 : 16:17:20
Hi
SL's are not secured as you say. Nor are court fines or CSA payments but you can't write them off either. If you think about it many many people would declare BR just on the basis of owing large amounts on any of these 3 types of "debt". Which is why they are exempt.
A matter of responsibility if you will, which isn't, as with loans etc, a business arrangement or a subsequent cost related to a business arrangement.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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