(on behalf of my son). He has just started college (and awaiting student loan). He has outstanding debts of over £3000 (bank overdraft and parking charges and other household bills) and cannot pay these amounts. Can he declare bankruptcy and still get his student loan? - which he needs to continue his studies. thanks,
technically your son can petition for bankruptcy if he owes 750 or more.
However because of his age and future prospects and the size of the debt I would suggest entering a very modest debt management plan until he is able to clear the debts. perhaps as a student he might be able to get a small part time job which could knock this in the head in 1 - 2 years.
(on behalf of my son). He has just started college
Posted - 01 October 2009 : 17:51:25
