I've got £1975 sitting in my frozen account nothing owing to the bank. This was due back from a holiday this August to Turkey that was cancelled due to Covid. I booked this holiday and payed for it last June 2021.
I have just been told by creditfix that they are putting it towards the creditors. I want to dispute this as if it wasn't for Covid I would have gone on the holiday. Surely it's my money owed to me as it was paid for before the IVA?
Can I dispute this and do I have a chance of getting it back? Thanks
It is an asset / windfall and, as such, payable under the terms of your IVA. The fact that the holiday was purchased prior to the IVA is immaterial -- say, for instance, you had a valuable oil painting on the wall that you have had since you were a child .... that would be considered an asset to be sold to pay debts, even though you owned it long before the IVA and any money issues. I am afraid that the same goes for the holiday money.
You can dispute it, but I doubt that CF would back down and I can't see a complaint being upheld, but you might get a sympathetic ear if you are lucky.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014