A BBC report last week announced that a watchdog is calling for more protection for shoppers who pay in advance for goods but lose their money when the business collapses. After the collapse of wedding list company Wrapit in August 2008, around 2,000 newlyweds were left without their gifts.
Is there a safe way to have a wedding list when companies are going bust in the current economic climate?
Yes: Dont put all your eggs in one basket! Having a wedding list that allows guests to buy directly from independent retailers rather than all from one company means that you are not going to lose all your gifts in one fell swoop.
The business model for Wrapit meant that guests paid for gifts upfront and Wrapit then ordered them from the suppliers. It took 6 weeks for them to collect all the gifts up after the couples list closed so couples often had an empty home until the gifts were delivered.
Using a list where guests buy from independent stores means gifts can be delivered either to the couple or guest immediately so there is no credit hanging around waiting for lists to be collated.
The new gift list system from Wedding Notebook, to be launched in Autumn 2009, allows couples to create a list with gifts from anywhere, including websites, independent stores, charity giving and suggested items. It has the convenience of a department store gift count-down system, but with the flexibility of not being tied to one store or small selection of gifts.
It is good to remember that generally,where guests are spending over £100 on a gift, then paying by credit card rather than debit card should mean they will get their money back if anything happens to the company they are buying from.