www.iva.co.uk

Hello,

We are planning our wedding and the thought occurred to me that we may receive cash gifts from some relatives or friends that are not sure what to buy us (we live together so would not have a conventional gift list). Where would we stand with this? Would it all have to be piad into the IVA or are gifts treated differently?

Personally I would treat gifts as windfalls therefore provided each is less than £500 and your proposal allows this, they would all be exempt. Speak to your own IP for their opinion but perhaps rather than cash you could ask people to pay for the food, wine, clothes, hair, cars etc which your creditors could not take.

Thanks, I have just had a look at our proposal and although it refers to windfalls, it only says we have to inform our IP in writing if we get one. Is £500 the standard cut off point or would we have to declare small gifts eg £10 ones if we have several of them? Thankfully we have already been offered a lot of practical help with the planning, I was just worried about cash gifts if they came.

Hi njc - Congratulations.

If it's cash-in-hand, personally I'd be tempted to keep quiet!!! Alternatively, choose your favourite department store, and ask for vouchers instead.

Good luck!!!

Thank you! I have already told some people who have asked to get us department store vouchers just in case!

A gift voucher should be fine I would think, there's always mostly something you need from certain stores.

Congratulations on your forthcoming wedding and I hope you have a wonderful day. x

I would keep quiet, and don't stick it in the bank or it will show on your bank statements at your annual review.

I would never withold information from my IP nor encourage another to do so. These things tend to come back and bite us when we're least expecting it.

Hope you have a lovely day x With everything we do the iva its always there within our thoughts .

If you treat each gift as an individual item, as Michael says, then i can't see the problem. Also i would be disgusted if an IP/Creditors tried to take wedding presents!

Hi NJC i hope you have wonderful day and good luck for the future, i would as Michael has suggested speak to your IP but i would also request that people rather than give you cash, give you vouchers, there are some that you can spend in different shops so maybe those would be more appropriate, best wishes. xx