Help please .. it's my money !

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fifikav
fifikav Posts: 44 Forumite
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in Savings & investments
Good morning... help needed..

Had a shareplan with work saving £200 a month at .90 share option.
Business has been bought out and share value now fixed @ 1.85..shares no longer on the market so 1.85 agreed.
Had 4 batch dates with ybs ( last one being April 2017)
Need my funds for various but serious reasons ...

Followed full process and ybs received my paperwork for March batch closure and payout. ( needed to be with them in the 3march).
As I had heard nothing... called them and they said it would not be closed until April as it was better for me to do that and my company and ybs account manager had agreed that for all employees...
A. This is my money and no advise has ever been offered or indeed given
B. At no point has any communication been given from ybs or my company re this ?
C.no one has ever reviewed my financial situation... it's a shareplan with agreed share value ?
D. I have cancelled my salary payment to the shareplan( as per process) so how can I be better off... I am not stupid... needs must!

My company say they have sent no communication to rbs... the process and relevant documentation has not changed.
Ybs are looking into my case...

I have spent all last night with an upset tummy and racing heart...

I need the money.... this is very serious to me...

Ybs are calling me back today and I have a complaints ref...

But I want my funds....?

And help on how to put together an email to them re my rights etc and how can I get my money... could potentially lose my house over this error ..

Sorry for the rant ... raging is not the word ?

Comments

  • justme111
    justme111 Posts: 3,508 Forumite
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    Did not want to read and run.
    One often can not make things the way one wants them to be. I would look into other ways of getting money if it is that urgent.
    The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
    Often people seem to use this word mistakenly where "quandary" would fit better.
  • alanq
    alanq Posts: 4,216 Forumite
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    fifikav wrote: »
    My company say they have sent no communication to rbs...

    Was this was also meant to be ybs?
  • jamesd
    jamesd Posts: 26,103 Forumite
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    Shares are not always liquid investments. Depending on the amount you need and your credit scoring you might consider a credit card with a money transfer deal or seeking an arranged overdraft or loan.
  • jimjames
    jimjames Posts: 17,621 Forumite
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    edited 15 March 2017 at 1:27PM
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    You had 4 batch dates, last one being April 2017.

    So what's happened to the previous ones? Have you been waiting 4 years for this or are the dates not yearly? It seems a very long time to wait to resolve something?
    Remember the saying: if it looks too good to be true it almost certainly is.
  • eskbanker
    eskbanker Posts: 31,066 Forumite
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    fifikav wrote: »
    And help on how to put together an email to them re my rights etc and how can I get my money... could potentially lose my house over this error ..
    There's clearly been some mix-up between YBS and whoever administers the scheme from your company if they're saying different things. Personally I'd pursue this with your company rep, not least from the perspective that if there is any possibility that your company has erred then they may be able and willing to make an emergency short-term loan/advance to you to tide you over while it's sorted out. Presumably there will be others in the same boat too, do you have any colleagues affected in the same way?

    Without knowing how a month's delay in a payout like this could cause you to lose your house, it'll be best to try to stay calm and focused - the "it's my money" angle really doesn't help so you should concentrate on ensuring that all parties stick to the published Ts & Cs of the scheme (or accept liability if they don't).
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