Author Topic: Mature Uni Student and Bankruptcy  (Read 14976 times)

Deedee

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Mature Uni Student and Bankruptcy
« on: Sep 08, 2014, 11:14:05 AM »
Hi all, I hope you can help as I can't find this same situation online anywhere.
 
 A friend of mine unfortunately went bankrupt this April, but is managing to turn her life around and has been offered a full time Uni place as a mature student.
 
 She would like to of course notify her OR as she will be in receipt of student loan/grant etc (she is also on ESA), but is very concerned that they will try and take some of this money away from her, which she will need to live on.
 
 The Uni is very near my home so I've said she can stay with me for the period and she wants to pay half bills etc, which she can just afford with what she has coming in. I know she's done a financial statement to justify exactly where the money will be going, including Uni costs like books etc, rent/food etc - Can anyone think of any other information the OR might need to know? Family etc are poor so unable to help financially, nor do any of them live nearby to the Uni, I just want to help her out where I can.
 
 Thank you for any help or advice in advance

Richard Stockburn

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Re: Mature Uni Student and Bankruptcy
« Reply #1 on: Oct 02, 2014, 03:28:01 PM »
Hi there - You are right, this is unusual, but the regulations state that bankrupts are not to allowed more than £500 credit unless the person providing the credit is made aware of the bankrupt's status. Provided they are, there should be no problem. Provided the funding was obtained under the 'Higher Education Authority Act' - and most student loans are - then the Official Receiver can't take the money and, quite frankly, your friend would not be obliged to tell the OR about it either. Hope this has helped.

Richard Stockburn bankruptcy.co.uk 07894 481175