My IVA has been agreed, fairly smooth sailing too as I had been so prepared after reading on here! My first payment went out yesterday.
Couple of things have occured to me today which I'm not 100% on and wondered if anyone might know - I have been notified today that I am due a refund on my gas/electric as the direct debits have been reviewed. Would this be something I need to mention to the IP? Direct debits will remain the same, but due to previous invoicing errors, I now have a high level of credit so they are refunding me almost £200 between the two utilities.
The other thing is aound travel, the lowest travel to work for me has involved a season ticket and my work do an interest free salary advance option to help with buying annual passes. They deduct a monthly amount equivalent to what the pass would be. Currently I have an annual pass for £849, with £70.75 taken out of my wages each month. The outstanding balance wasn't considered to be included in the IVA so I am guessing it's not thought of as a loan. When my pass renewal comes around, is this going to be sticky ground as it's "credit" over £500? The policies at work are that the money can only be used for a travel pass, evidence has to be shown as such to my approving manager. If a pass is not agreed, my travel costs would increase by £50 a month. Thinking ahead, if my monthly travel went up would this be reviewed by the IP or would it be expected to come out of my allowance?
Thanks in advance.
Utility refund - I would personally put it into a rainy day account and leave it there 'just in case' during the year but others may say it is classed as a windfall and therefore should be handed over into your iva pot for creditors. If in doubt ask the question with your IP.
I would think your travel to work is fine and is easily explained at annual review time - again if in doubt get the IP to put the answer in writing to you to support you during your iva review process.
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