Childrens' Money

[BlueShoes]

Hello
I am assuming that any monies left to the children as inheritance, or any winnings on their premium bonds are not classed as our "windfall" and theirs to keep during the IVA? (they have their own bank accounts, so any money would go straight in there, without having to pass through our bank account)
As parents, if we decided that we were to use some of this money to say have a family holiday, would that be ok, or inherently dishonest? (hubby and I disagree on this one)
All wishful thinking of course, no rich relatives about to leave this mortal coil, and very slim chance of coming up on bonds knowing our luck! (In fact no rich relatives, full stop[:D])
Blue

[MelanieGiles]

The childrens money is their own, Blue. If you want to borrow some of their money for yourselves this would be fine.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Oliver]

Any money the children have is their own and i would say that you would be fine to go on holiday (but a little mean if you didn't take the children with you [:)] )

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[BlueShoes]

Don't tempt me Thomas!
Finding a willing babysitter would be our stumbling block!
Blue

[BlueShoes]

Not that they are monsters of course!
Just young and busy and exhausting.......
Blue (zzzzzzzz)
p.s. Day one of the school holidays, and worn out already!

[hara]

Melanie Giles,

I thought you were no allowed to barrow even from family members, that includes children of any age I presume.

hara

[MelanieGiles]

If the money were to be loaned on the basis that it was not necessary to pay it back until the IVA had concluded, then this would be technically OK between family members. I feel that common sense prevails in matters like this, and most families help each other out without causing IVA defaults. But of course, any borrowings ought to be kept to a minimum.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Adam Davies]

Hi
The only way that I managed to get through my IVA was to borrow from my father in law,but as Melanie states common sense prevails and there is nothing wrong with borrowing a few pounds to see you through to payday.
Regards


Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
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