Hi there @masonstorm
Yes thats correct and once you choose the option to start a new goodybag or gigabag early, before your expiry date, you Lose any remaining Allowance that you may currently have on your Existing goodybag / gigabag allowance, its only possible to have One Package running at a time per month.
A giffgaff agent May at there discretion, refund a live/active goodybag or gigabag bought by mistake.
If you've Activated your sim within the last 30 days, or NOT used Any or little of your Allowance.
An agent May remove it for you ,and refund the credit back to your Account, so you'll then need to Manually buy your new goodybag using your Airtime Credit to pay for your new goodybag, see here https://giffgaff.com/dashboard
Once you Have chosen the Option to start Your New goodybag Early, you May just Need to turn your Device OFF and On again thanks.