www.iva.co.uk

Hi, I am in the first year of my IVA, had no issues so far but I am so concerned at the moment and just need some advice.

I booked a holiday in 2019 for my family which was due to happen in 2020, however due to covid it was rescheduled for this year but it has now been cancelled. I opted for a refund, not really thinking about it and the have issued the refunds in different payments, depending on how much I paid at one time. The total amount is £1050 but in small payments. My question is would this be classed as a windfall due to the payments being smaller than £500 but obviously they all total more than £500. I have already contacted my IP and I am awaiting a call back but I am panicked because the money I paid was not just mine, it was was my partners as well and they do not know I am in an IVA (i know that's bad).

Has anybody got an idea on what the IP will say or where I stand with this?

Thanks in advance

Hi Jess. I am afraid that this is difficult to guess as IPs are tending to re-interpret clauses these days, added to which the covid situation is unique.

The same thing happened to me last year , but because the refund was due to one of my cards that was a creditor I was told I could not keep the refund , so instead I just asked the travel agent for a voucher instead to book a new holiday in the future , which was a win win for me as I can’t afford to save for a nice holiday anyway now in a iva so it’s nice to know I have a holiday voucher to use when I want to get away , so it might be a better option if you can do that if you can’t keep the refund

Thanks both for replying.

I asked for the refund without even thinking

Another question off the back of this, if my partner had transfered me funds towards the holiday and I have evidence of this, would they allow us to keep that money?

SO for example the holiday refund total would be £1700

£500 went back to credit card, that will be absorbed into the debt, already accepted that.

Partner paid me 2 payments 1 x £480 and 1 x 450 - we keep this amount of the refund then the £270 left over goes towards IVA?

Hopefully, with that explanation, they will accept your figures. After all, why should your partner not get their share of the refund ?

I agree with foggy and would hope your IP sees this as the right way forward for you as your partner should not be impacted.