£10,000 Wedding Gift Help!!!

momma2

PLEASE HELP!!! My fiance' and I have just received £10,000 :rotfl:as a pre-wedding gift to pay for the whole thing from my father and we have no idea what sort of account to put it into, i'm currently in arrears in my account and my fiance' only has a buisness account-neither of which we want the money to go into. Any suggestions would be greatly appreciated...THANK YOU IN ADVANCE x

isplumm

momma2 wrote: »

PLEASE HELP!!! My fiance' and I have just received £10,000 :rotfl:as a pre-wedding gift to pay for the whole thing from my father and we have no idea what sort of account to put it into, i'm currently in arrears in my account and my fiance' only has a buisness account-neither of which we want the money to go into. Any suggestions would be greatly appreciated...THANK YOU IN ADVANCE x

try reading this ... http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

I suggest you want instant access to it - assuming that the wedding is soon - but if you aren't goint to need some of the money for a while, how about putting some of it in an isa - you will then not have to pay tax on the interest.

Mark

CLAPTON

why don't you want to clear the arrears on your acccount?
do they not attract charges and interest?

taz121

Because its a gift from her father to pay for a wedding not her debt

stebiz

What a nice problem to have. I would do one of two things.

(i) Open an account with a different bank - one you or your b/f don't have money owing too.

or

(ii) Ask your Dad, if he would mind terribly, if rather than take 10k in one go, if you could keep a little book, and let him pay for the wedding as you go along.

Good Luck

onlypaddy

CLAPTON wrote: »

why don't you want to clear the arrears on your acccount?
do they not attract charges and interest?

Father: "Here you go, have £10k for your wedding"

Offspring:"Thanks dad"..... "Here you go mr Bank man, pay off my debt with wedding money...."

Father (at wedding): "F**k me, weddings must be expensive now.....I swear i'm in a shed eating a big mac...."

:rotfl:

CLAPTON

onlypaddy wrote: »

Father: "Here you go, have £10k for your wedding"

Offspring:"Thanks dad"..... "Here you go mr Bank man, pay off my debt with wedding money...."

Father (at wedding): "F**k me, weddings must be expensive now.....I swear i'm in a shed eating a big mac...."

:rotfl:

bizarre

why speculate when you can know

I'm a father and if I knew my offspring were in financial trouble I would, subject to knowing the full facts, be willing to help

maybe others wouldn't but that's a personal choice

momma2

Thanks to all......

I'd love to pay my debts off but as mentioned before this is a gift for us both and not to clear my personal problems. I think a new joint account seems the way forward but with which bank and account etc...????

momma2

hehe.... true true!!!

Mikeyorks

momma2 wrote: »

I think a new joint account seems the way forward

Only if you want to tar your partner with any adverse credit ratings you have ...... as a joint account will do that. Open a Savings account (credit check not normally done) to clear the cheque through.

isplumm

momma2 wrote: »

Thanks to all......

I'd love to pay my debts off but as mentioned before this is a gift for us both and not to clear my personal problems. I think a new joint account seems the way forward but with which bank and account etc...????

I would suggest that you both open an instant access isa, putting in £5,000 each - then as you need the money just take it out ... this way you will earn interest & will not have to pay tax on it.

Look at the article I pointed to previously for the best one.

Mark