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look like i am geting a small tax refund if i do get one is this counted as extra income and will i be able to keep any off it.

It will be treated as a windfall and you will have to account to your IP for the money. Some IVAs have an allowance on windfalls so you should check the terms of your own agreement.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Does this work both ways i have just had a bill of the tax office, is was short by £81.00 does that mean on my next payment I can pay £81 less, because if i had over paid by £81 then this would be a windfall and i would have to put it all in to my iva?

no matter how bad money gets, theirs stll alot more important things in life - 48 payments to go

Hi James,

Its a good question that you ask, however I dont believe your I.P would include the Inland Revenue as a creditor as the debt is too small. Do you have a contingency fund that you can pay the bill out of? I would speak to your I.P to gain further advise.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

it comes of my tax code next years, so its just a few quid a month and i should be able to find it, but thats not my point.

The point is when/if we have a windfall we have to hand the money over, but for what ever reason we need to decrease the amounts, its either a no or they take months to make a descion.

We all agree that we are in an IVA to pay back as much as we can. But creditors have to play fair as well, after all if it wasnt for IVA's not only would most of us gone BR but creditors wouldnt get any money back at all.

I am not moaning I am happy with my IVA, but when theirs extra money it gets taken away from you and when something goes wrong, ir new washing machine needed, car bills etc etc, we have no spare money and creates stress and worry for everyone, whilst the bank manager can sleep soundley, ie chairman of NR for example

no matter how bad money gets, theirs stll alot more important things in life - 48 payments to go

Hi
It is a very good point.
I did two weeks jury service whilst in my IVA and the allowance was a long way short of my wage,however my employer made up the difference.Had my employer not done that[and they are not obliged to] I would have to of asked my IP for a reduction in my IVA payment that month and under the circumstances I'm sure that they would agree.However would that shortfall have to be tagged on at the end of my IVA ? Lets say that it does and was for £200,what if I receive an extra £200 several months later due to a tax windfall,common sense would say that one should cancel the other one out and that I wouldn't have to pay both,but this wouldn't be the case.
Maybe IPs can use their discretion
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

I always set-off things like this - but I cannot speak for all IPs.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp