advice please

notreallyme_2

if i was to use savings to pay back members of my family and give some to my daughter(age 16) before entering a dmp ..would that cause any problems ?

lynzpower

Are you meaning that you have savings, but instead of paying your debts off with them you will give the money away? So its not given to paying your debts off?

if you are paying back members of your family for a debt you owe I cant see any problem with that as family debts arent included in DMPs are they?

But shuffling money off to other family members so you dont have to pay your debt- if thats what you are suggesting , sounds pretty morally wrong to me. PLus it will add a lot more time onto the DMP

just my thoughts

notreallyme_2

thank you....the money would be to pay back loans from parents would rather pay them back first (rather than the money going to creditors) and then enter into a dmp

fatbelly

Debts to family members are usually regarded as priority.

What were you doing having savings and debts anyway?

I think you will be OK but I agree with Lynz that the way you phrased your question made me a bit uncomfortable.

notreallyme_2

"rainy day syndrome" having savings -- chucking it down now though..sorry if my phrasing caused a misunderstanding wasnt sure if paying back family before entering a dmp would cause problems ie creditors wanting the money anyway.