# Pay for Spanish Wedding now?



## NickyK (22 Jun 2012)

Hi,

I don't know/understand a lot about the situation regarding the Euro crisis. 

I'm due to get married in Spain this August. We took out a loan of €22000 and have been paying deposits as required. We still have approx €18000 left. Listening to the radio it seems a punt of some form may be on the way very shortly. 

I can pay for the wedding now but was waiting (I don't know why) until the last minute. Because of the situation with the euro and because I'll be paying a Spanish hotel/vendors should I pay it now? The wedding will be paid for either way but should I do it asap?

Thanks in advance,

Nicky


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## GDUFFY (22 Jun 2012)

Thats a sticky situation , Maybe Escrow 

http://en.wikipedia.org/wiki/Escrow


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## Brendan Burgess (22 Jun 2012)

I would be slow to pay for any overseas service in advance. If the euro collapses, it's just impossible to know what will happen.

If the euro collapses before you pay, you will be better off if the punt devalues by less than the peseta. Obviously, you will be worse off if the punt devalues by more. 

I think that the credit risk probably outweighs the currency risk, unless you can pay by Credit Card where the payment is guaranteed.


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## NickyK (22 Jun 2012)

Thanks for the replies.

My credit card limit is €12500. How would this be guaranteed? Could I credit my credit card with the loan money and then pay for it? I'm not worried about losing the money as the hotel is one of the biggest on the Costa del Sol. We have a wedding planner who works for the hotel and everything is paid through her. She has worked for the hotel for years and I don't doubt her reliability.
I'm more worried that if I don't pay it I will end up paying the equivalent of €30000 in the future.


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## Brendan Burgess (22 Jun 2012)

> My credit card limit is €12500. How would this be guaranteed?



If you pay for a service by credit card and it is not delievered e.g. because the provider goes into liquidation, the Credit Card company refunds the money. 


> Could I credit my credit card with the loan money and then pay for it?



I don't see why not.


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## Sandals (23 Jun 2012)

NickyK said:


> Could I credit my credit card with the loan money and then pay for it?



Did this before and received a phone call (either from BOI or MBNA) that this could be seen as money laundering. Was told to get credit limit increased if needed.


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## NickyK (24 Jun 2012)

I will talk to the wedding planner on Monday. Are there any specific questions I should be asking her?


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