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 http://foggy.blogs.iva.co.uk