www.iva.co.uk

Hello

I am now in an IVA and think I will be fine for the next 5 years as far as living within my means goes

I have one general question though, if people in my family give me money for Christmas, do I have to declare, thus lose it all?

Say for example, if my Mum, Dad, 2 Brothers and Sister gave me £50 each as a christmas present

My IVA is currently £371 a month based on a monthly income of £2164

Is there a limit then above that it has to be declared?

Am not sure if the windfall clause comes in here!

Hi Paul,

Helen is right - if you receive money for Christmas and Birthdays, then it is yours to do with as you wish.

Thanks Helen the windfall clause is a nasty one to follow because it says about covering financial gifts which does seem a bit harsh!

Was initially concerned about being in breach of IVA if I did get financial gifts from family for xmas/bday but I am sure I wouldnt be now, because a gift is not credit

I totally understand the windfall clause for inheritance, lottery, etc thats fair enough

Thanks Kallis!

We have money from my parents every year for birthdays and Christmas (unfortunately we both have December birthdays as well!). It's not a vast amount, but it's nice to have for a little splurge in the sales after Christmas!

enjoy those gifts Paul [:)]

Enjoy your monetary gifts if you have some as I often ask for a voucher from people if they ask as then I can buy what I want. Hubby's mum gave us money this year and it provided a nice break to Manchester to see my family x

Christmas presents are completely exempt from IVA proceedings.

Thanks I will def be asking for money for birthday and Christmas then