Redundancy

PLounge

Hi all

Not sure if this is the right place to post this but I'm needing a wee bit of advice.

I entered into a DMP through PayPlan last September. Things have been going well will most of my creditors off my back and my debt is coming down nicely.

The problem is I have been paid off at work and am now unemployed . I am unable to claim benefits as I received 8k that I was told I had to live off until I find a job or run out of money before I can claim.

Question is do I have to give this money to my creditors towards my debt?

If I do, I still can not claim as the benefits office told me they would calculate how long my money would last and would then give me benefit when they reckon my money is gone.

On the up side, if I get a job before my money runs out I then can pay off some of my debt.

What worries me is the forms I have to periodicly have to fill in from my debtors, and most of them ask for proof of wages, they would insist I pay them all my money.

I'm not even sure what to say to PayPlan about the money I have received from my ex-employers

I hope this makes sense.

RAS

How long would your Redundancy last if you were to allocate it at the normal rate of income per month?

sam89

Speak to your contact at Payplan, or email them if you find that easier.

I'm sure they will have come across this situation before and remember they are on your side .

As RAS says work out how long your redundancy will last and give them this information too.

Sam,
x.

PLounge

Thanks for the swift replies.

I worked it out my money would last for 9 months.

RAS

Normally, they reckon it takes 5 months to get back into work, but given the current job market, I would be a bit more careful.