We are currently going through a claim to try and claim back some travel insurance money. This claim oringinal started in June and we are currently still waiting our creditors meeting, although we should be hearing a date sometime this week, as our proposal has now been signed and returned.
If we receive the money after the creditors meeting, when the IVA is hopefully accepted, will we be expected to pay some money back to the creditors, as a windfall??. It MAY be about £1600. We did not think that we would need to as the claim had started prior to this, but the money will be in a form of a cheque so will show in the bank account.
We were hoping to use the money to fund another holiday this year, as unfortunately we had to come home early.!!!
F&F accepted 12/8/13 - Awaiting Completion Certificate
Thanks to everyone for your support. Could'nt have done it without you.
As Melanie has said, if this money comes through, it should be treated as a windfall gutting as that may be.
One way of looking at it is, if rather than proposing an IVA, you were still struggling with your debts, you would quite possibly have used all or part of any money received to pay some of your creditors anyway so it is not really money you would have had in your pocket...