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Mrs_Brown
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by Mrs_Brown » Wed Jan 03, 2018 8:25 pm
Hello, I'm newly registered here, but have been reading the forum as a guest for months. All the info proved invaluable in my tumoiled state of mind, juggling the £32k in debts as a newly single person (previously manageable whilst with the ex.)

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.
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luluj
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by luluj » Wed Jan 03, 2018 8:34 pm
Welcome and please do ask your questions. We are here to help!

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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Foggy
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by Foggy » Wed Jan 03, 2018 9:06 pm
I agree there is nothing to worry about. The utility refund could be looked at as a windfall, but falls under the de minimis amount of £500, so you should be able to keep it. The pay advance should also be OK as it isn't actually credit as such.
Mrs_Brown
Posts: 8
by Mrs_Brown » Thu Jan 04, 2018 8:48 am
Thank you both.
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