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  • FIRST POST
    • caldi9
    • By caldi9 11th Nov 17, 7:45 PM
    • 23Posts
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    caldi9
    Important practical matters to take care post-resignation
    • #1
    • 11th Nov 17, 7:45 PM
    Important practical matters to take care post-resignation 11th Nov 17 at 7:45 PM
    A family member will resign and she will have a 12-week leave without having a new job lined up. Are there any important things she should take care of while she is still being employed? Eg, health insurance as an obvious one.

    I would think that getting a debit card or other financial items (mortgage) may be more difficult to obtain without an employer?

    Thank you
    Last edited by caldi9; 11-11-2017 at 7:52 PM.
Page 1
    • IAmWales
    • By IAmWales 11th Nov 17, 8:18 PM
    • 1,630 Posts
    • 3,367 Thanks
    IAmWales
    • #2
    • 11th Nov 17, 8:18 PM
    • #2
    • 11th Nov 17, 8:18 PM
    Is your family member in the UK? Health insurance would not be obvious, we do have the NHS.

    Will they be requiring a mortgage within the twelve week period?

    What are you trying to sell us?
    • elsien
    • By elsien 11th Nov 17, 8:22 PM
    • 15,285 Posts
    • 38,372 Thanks
    elsien
    • #3
    • 11th Nov 17, 8:22 PM
    • #3
    • 11th Nov 17, 8:22 PM
    Taking out any extra credit/payments/loans without a job to go to is unlikely to rank at the top of a list of sensible decisions to make.
    All shall be well, and all shall be well, and all manner of things shall be well.

    Pedant alert - it's could have, not could of.
    • caldi9
    • By caldi9 11th Nov 17, 8:23 PM
    • 23 Posts
    • 0 Thanks
    caldi9
    • #4
    • 11th Nov 17, 8:23 PM
    • #4
    • 11th Nov 17, 8:23 PM
    She lives in the UK and has private health insurance through her employer she said. She is not looking for a mortgage. I wonder if there are other basic things like credit cards, accounts etc that will be tricky to get without an employer.
    • caldi9
    • By caldi9 11th Nov 17, 8:23 PM
    • 23 Posts
    • 0 Thanks
    caldi9
    • #5
    • 11th Nov 17, 8:23 PM
    • #5
    • 11th Nov 17, 8:23 PM
    I should say that she left a well-paid job.
    • IAmWales
    • By IAmWales 11th Nov 17, 8:26 PM
    • 1,630 Posts
    • 3,367 Thanks
    IAmWales
    • #6
    • 11th Nov 17, 8:26 PM
    • #6
    • 11th Nov 17, 8:26 PM
    She lives in the UK and has private health insurance through her employer she said. She is not looking for a mortgage. I wonder if there are other basic things like credit cards, accounts etc that will be tricky to get without an employer.
    Originally posted by caldi9
    Is there a reason why she'll need to take out credit in the twelve week period, presumably she has sufficient savings to cover her expenses?

    Rather than random hypotheticals, why not suggest she posts any questions herself?
    • caldi9
    • By caldi9 11th Nov 17, 8:31 PM
    • 23 Posts
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    caldi9
    • #7
    • 11th Nov 17, 8:31 PM
    • #7
    • 11th Nov 17, 8:31 PM
    We were discussing it and she asked if I could think of anything. Apart from health insurance and an ISA she wanted to open I could not come up with anything.
    • Manxman in exile
    • By Manxman in exile 11th Nov 17, 9:22 PM
    • 1,004 Posts
    • 687 Thanks
    Manxman in exile
    • #8
    • 11th Nov 17, 9:22 PM
    • #8
    • 11th Nov 17, 9:22 PM
    As others have pointed out, we have the NHS. Why worry about health insurance?


    Also, if she's leaving a rather well paid job, doesn't she already have all the credit etc cards she needs?


    If she doesn't already have an ISA I think her time would be better spent finding another job...
    • Neil Jones
    • By Neil Jones 11th Nov 17, 9:41 PM
    • 932 Posts
    • 520 Thanks
    Neil Jones
    • #9
    • 11th Nov 17, 9:41 PM
    • #9
    • 11th Nov 17, 9:41 PM
    I would think that getting a debit card or other financial items (mortgage) may be more difficult to obtain without an employer?
    Originally posted by caldi9
    Not necessarily for the debit card, though for larger financial objectives such as a mortgage it becomes not impossible but probably harder - after all if your income drops from, say £25k a year down to nothing (or even contribution based JSA at £73 pw IIRC, not that she'd be entitled to that after resigning) why would any provider furnish a mortgage or similar? The ISA is immaterial and don't involve credit checks as such.

    As to important things to take care of while employed, set aside a pot of money to cover the next three months of bills which ideally should have been done long before now. Bills don't pay themselves. Oh yeah and seek another job ASAP.
    • TELLIT01
    • By TELLIT01 11th Nov 17, 9:42 PM
    • 4,086 Posts
    • 4,215 Thanks
    TELLIT01
    Unless she is currently receiving medical treatment under her private health cover, or expects to be doing so in the near future, keeping it going is probably a luxury she could forego.
    • Sarastro
    • By Sarastro 11th Nov 17, 9:57 PM
    • 225 Posts
    • 161 Thanks
    Sarastro
    A family member will resign and she will have a 12-week leave without having a new job lined up. Are there any important things she should take care of while she is still being employed? Eg, health insurance as an obvious one.

    I would think that getting a debit card or other financial items (mortgage) may be more difficult to obtain without an employer?

    Thank you
    Originally posted by caldi9
    I don't get it...isn't the most important practical thing to find a new job? Then it all kinda doesn't matter. It would seem crazy to try and remortgage whilst she's between jobs. Don't think there's much point having health insurance.
    • burnoutbabe
    • By burnoutbabe 12th Nov 17, 3:43 PM
    • 1,295 Posts
    • 1,859 Thanks
    burnoutbabe
    before I took voluntary redundancy, I did apply for a few 0% credit cards, as I was getting kitchen done and wanted to pay for it on that, and keep my savings earning interest (I did have the cash to pay for the kitchen already)

    So I did apply before i was unemployed, as knew it would be harder to get credit when "unemployed" than when working (i was planning to take a year off work)

    The other thing with Insurance, if you have one though work, and you have existing conditions, sometimes it is better to take on that policy privately, as it would be expensive to get it again privately and would exclude those conditions anyway - so keeping the Medical policy up would make sense for some people.

    Mortgage, I'd avoid that - only if i was happy to NOT resign until it was all sorted and I'd moved as they can take a fair while to go through and they do ask employers if the employee is likely to leave soon (ie resigned or about to be made redundant)
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