£5000 for a wedding

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sophie885

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Post by sophie885 » Mon Oct 22, 2018 5:14 am
My mum has given me 5k for saving for a wedding. Do I need to say to my IP that I have received this. I really don’t want to pay it into my Iva as my family don’t know about this. My parter does. But my mum has transferred this into my account. I don’t know what to do. I am panicking. Please help!

Foggy

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Post by Foggy » Mon Oct 22, 2018 6:47 am
This could be a problem and could be payable into the IVA. I would suggest thinking of a reason to get it transferred back to your mum's account asap so that, if they request to see your bank statements it will show as an "in and back" transfer made in error by your mum.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
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kallis3

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Post by kallis3 » Mon Oct 22, 2018 8:30 am
Has your partner got his own bank account? If so the money could be transferred across there.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
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Lisa Thomas

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Post by Lisa Thomas » Mon Oct 22, 2018 9:28 am
Give it back to your Mum.

Is there anyway you could consider using this money to offer a F&F to creditors to finish your IVA instead of towards a wedding?

Might be worth considering/exploring...
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

kallis3

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Post by kallis3 » Mon Oct 22, 2018 10:38 am
If her family don't know it might be difficult to do that.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

MerlinL14

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Post by MerlinL14 » Mon Oct 22, 2018 3:22 pm
Sit down with your Mum and explain what an IVA is, chances are she has never heard of it! It will be hard and you will want the floor to swallow you, but your Mum would be more than messed up if she found out her gift went to your creditors. You don't want to be in possession of a sum of money that big, if it came to light even after you have spent it on the wedding your IP could make you complete another 12 months to make it up. You Mum is a gem for doing this for you, as hard as it will be you have to be the bigger person right now and tell her how it is. She can still pay the £5k for items in the wedding, just from her Bank account not yours.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues

luluj

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Post by luluj » Tue Oct 23, 2018 4:37 am
Ask mum to look after it untl it needed .. tell her you want to keep it seperate and would rather she look after it until its needed then involve her in the spending of it ...
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