Windfall

Get expert opinion. This is the place for new questions to be posted.
6 posts Page 1 of 1

jessfacehunt

Posts: 3
Joined: Fri Apr 16, 2021 8:48 am

Post by jessfacehunt » Fri Apr 16, 2021 8:52 am
Hi, I am in the first year of my IVA, had no issues so far but I am so concerned at the moment and just need some advice.

I booked a holiday in 2019 for my family which was due to happen in 2020, however due to covid it was rescheduled for this year but it has now been cancelled. I opted for a refund, not really thinking about it and the have issued the refunds in different payments, depending on how much I paid at one time. The total amount is £1050 but in small payments. My question is would this be classed as a windfall due to the payments being smaller than £500 but obviously they all total more than £500. I have already contacted my IP and I am awaiting a call back but I am panicked because the money I paid was not just mine, it was was my partners as well and they do not know I am in an IVA (i know that's bad).

Has anybody got an idea on what the IP will say or where I stand with this?

Thanks in advance

Foggy

User avatar
Forum Expert
Posts: 33094
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri Apr 16, 2021 10:05 am
Hi Jess. I am afraid that this is difficult to guess as IPs are tending to re-interpret clauses these days, added to which the covid situation is unique.
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

lauren923

User avatar
Posts: 23
Joined: Tue Sep 01, 2020 3:54 pm

Post by lauren923 » Fri Apr 16, 2021 2:16 pm
The same thing happened to me last year , but because the refund was due to one of my cards that was a creditor I was told I could not keep the refund , so instead I just asked the travel agent for a voucher instead to book a new holiday in the future , which was a win win for me as I can’t afford to save for a nice holiday anyway now in a iva so it’s nice to know I have a holiday voucher to use when I want to get away , so it might be a better option if you can do that if you can’t keep the refund :)

jessfacehunt

Posts: 3
Joined: Fri Apr 16, 2021 8:48 am

Post by jessfacehunt » Fri Apr 16, 2021 3:21 pm
Thanks both for replying.

I asked for the refund without even thinking :oops:

Another question off the back of this, if my partner had transfered me funds towards the holiday and I have evidence of this, would they allow us to keep that money?

SO for example the holiday refund total would be £1700

£500 went back to credit card, that will be absorbed into the debt, already accepted that.

Partner paid me 2 payments 1 x £480 and 1 x 450 - we keep this amount of the refund then the £270 left over goes towards IVA?

Foggy

User avatar
Forum Expert
Posts: 33094
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri Apr 16, 2021 4:19 pm
Hopefully, with that explanation, they will accept your figures. After all, why should your partner not get their share of the refund ?
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

luluj

User avatar
Forum Expert
Posts: 11235
Joined: Sun Dec 09, 2007 6:54 am
Location: United Kingdom

Post by luluj » Sat Apr 17, 2021 5:30 am
I agree with foggy and would hope your IP sees this as the right way forward for you as your partner should not be impacted.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
6 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”