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  • FIRST POST
    • Simplyme
    • By Simplyme 8th Oct 16, 10:39 AM
    • 14Posts
    • 1Thanks
    Simplyme
    Job and DRO
    • #1
    • 8th Oct 16, 10:39 AM
    Job and DRO 8th Oct 16 at 10:39 AM
    My question is this I am quite a few months into my DRO. I really hate my job what will happen if I leave the job or lose it with no income coming in or find a similar level job?

    There are quite a few Christmas jobs out there coming up on a similar wage and I could probably jump ship but I don't want too much hassle as regards being reassessed. My mind can't cope with too much stress at the moment. But at least I am doing something about my situation. But a job you hate does not really help the situation..

    Then there is the issue the job may not be as secure. So I do not know if is it worth finding employment that keeps me more sane on a similar income ?

    Advice please.

    Simplyme
Page 1
    • keepcalmandstayoutofdebt
    • By keepcalmandstayoutofdebt 8th Oct 16, 11:39 AM
    • 2,915 Posts
    • 1,513 Thanks
    keepcalmandstayoutofdebt
    • #2
    • 8th Oct 16, 11:39 AM
    • #2
    • 8th Oct 16, 11:39 AM
    I had a few jobs during the moratorium period.
    Inc redundancy of the highest paid one offered and started when I was a month away from finishing that first period and the whole being on JSA for very short periods of times, so the good and bad times averaged out if you like.

    Nothing bad ever happened and now I'm 21 months away from the 6 year Anniversary awaiting the very end.

    I did wonder how the £6.70ers coped with getting £7.20 but that would be a tough situation to so you are not alone.
    "If you are caught in a rainstorm, once you accept that you'll receive a soaking, the only thing left to do is enjoy the walk"
  • National Debtline
    • #3
    • 10th Oct 16, 6:55 PM
    • #3
    • 10th Oct 16, 6:55 PM
    Hi Simplyme


    If you were to simply leave your job and lose the income altogether, clearly it is not going to put your DRO at risk of being revoked, as leaving the job would put you in an even weaker financial position than you were when the DRO began. Bear in mind that giving up work voluntarily could result in sanctions being applied to any claims for unemployment benefit.


    If, alternatively, you were to change jobs and the new one paid ever so slightly more, strictly speaking you should report this to the DRO Unit at the Insolvency Service. In practice, slight improvements in income will usually be cancelled out by similar increases in the cost of living, or reductions in other means-tested benefits being claimed. It's only if your income were to really leap quite significantly that there might be a serious risk of the DRO being revoked.


    As for your broader question of whether you should trade in job security for more job satisfaction/less stress, well that is a decision only you can make, but it is of course important to prioritise your mental health in any such choices.


    Good luck


    Dennis
    @natdebtline
    Last edited by National Debtline; 13-10-2016 at 6:44 PM. Reason: typo
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
    • malnuman
    • By malnuman 11th Oct 16, 10:02 PM
    • 15 Posts
    • 11 Thanks
    malnuman
    • #4
    • 11th Oct 16, 10:02 PM
    • #4
    • 11th Oct 16, 10:02 PM
    Hi, when I first started my DRO in 2014 I was just made unemployed, so for almost a year I had to avoid any well paid work, however I did get a part time job which was near enough the same money as my job seekers allowance, it did not effect my DRO which I completed successfully . So I suggest changing jobs, but to one with a similar wage, just to be on the safe side. It's worth the short term struggle to be completely debt free
    • sourcrates
    • By sourcrates 14th Oct 16, 12:34 PM
    • 12,455 Posts
    • 11,854 Thanks
    sourcrates
    • #5
    • 14th Oct 16, 12:34 PM
    • #5
    • 14th Oct 16, 12:34 PM
    As Dennis says, your DRO would only be at risk of failure, should your income increase significantly.

    This is why DRO`s are perfect for people who are on a low income, and who are possibly at risk of losing there job, because that will not affect the DRO at all.

    As long as your new wage is not significantly higher than the old, everything will be fine, small increases are offset by rises in the cost of living anyway, and remember, the insolvency service will not be actively chasing you for up to date income details.

    As long as you remain within the guidelines, and you can justify your budget, i would not worry.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
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