Due to money laundering measures used by the banks just because you open an account then cash the cheque then close it again doesnt mean there wont be a clear paper trail to follow the money.
If the moral obligation to declare windfalls etc isnt enough to make you come clean a criminal conviction as a fraudster may do the trick.
Where would the 30k be coming from.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
We had the same thoughts when my husband inherited money. Its nice to dream which we did for a few hours then did the right thing and informed our IP. We are now debt free which is such a nice feeling and we can get on with our lives again.
I often dream even though I've now finished my IVA, it's good to dream but then I'm back in reality and I know I would declare it as it may still give me or get me closer to a fresh debt free start.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
We had a case last year where a client tried to do this with a £100k redundancy cheque, and the bank concerned did contact us to highlight what he was doing - so just to concur with the other advice provided - don't even consider taking the risk as the penalties can be harsh.
I think we all realised that you were only playing "Devil's Advocate" Hellen, and I thank you for raising this point as it always creates a good debate on the forum.
I'm sure one of the experts will correct me if I am wrong on this point, but if you are talking about being OFFERED money, then it may be classed as a GIFT rather than a WINDFALL.
Windfalls (like a lottery win, inheritence etc.) have to be handed over to your IVA, cash gifts do not.
My opinions are just that: Based on my experience and being a self-employed IVA customer.
Good point - monies offered do not fall into the windfall category, but are treated as third party funds and can be used to offer full and final settlement of an IVA.
If you are offered a gift that would cover the cost of your IVA, do you still have to legally declare it? and if you do, does the person who gave you the gift have to know?
But as Melanie says, you could (hypothetically) ask this friend to offer a sum of money in a 'full & final settlement' of your IVA (I would suggest the amount you pledged in your original agreement, less any payments made ie: your minimum proposed dividend).
Assuming that gets accepted, and once your IVA is complete, if your friend then wants to give you any more than that amount, the surplus is yours to keep - guilt free!!!
My opinions are just that: Based on my experience and being a self-employed IVA customer.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Hellen
sorry to be an idiot but if someone gives me £30,000 (unlikely!) i don't have to declare it because it's just a present??
The person giving you the gift would be wise to rake advice to ensure the gift has its intended consequences eg getting you debt free or say s new car. The person giving the gift could give it with strings attached/delay it to avoid it being wasted in their eyes
