Help please - im about to lose my job after 19 years - im a single mum

rlc_2

Go immediately to either your Union (or Staff Association) or your Personnel department and get the full facts. If you are being made redundant then ask if the settlement is to be enhanced in anyway and if you are to be given any assistance in terms of help with your cv and any time of for interviews. Your employer should be receptive to this - negotiate hard. Find out exactly where you stand so you can prepare for the next few weeks. Calculate how much money that you're going get (www.redcalc.co.uk) and plan a budget accordingly.

Prepare a cv and then go and visit recruitment consultants who work in your field. Take a lot of notice of what they say - they are going to be very valuable in the next few weeks. Don't worry if the first couple of interviews don't go so well - you will get another job and you may find that after nineteen years in with one employer that the change will be welcome. Good luck.

rosysparkle

As you work in finance I'd advise you to contact a finance recruitment agency (like Hays), they will get you some temp work till you find something permanent. I have not had one day out of work since I started temping with Hays, and as you get paid weekly it's easier to manage your finances.

Your tax credits will go up if you take a job with less pay than you are on now.

wendb69

rosysparkle wrote: »

As you work in finance I'd advise you to contact a finance recruitment agency (like Hays), they will get you some temp work till you find something permanent. I have not had one day out of work since I started temping with Hays, and as you get paid weekly it's easier to manage your finances.

Your tax credits will go up if you take a job with less pay than you are on now.

Thank you - thats a great help x

wendb69

rlc wrote: »

Go immediately to either your Union (or Staff Association) or your Personnel department and get the full facts. If you are being made redundant then ask if the settlement is to be enhanced in anyway and if you are to be given any assistance in terms of help with your cv and any time of for interviews. Your employer should be receptive to this - negotiate hard. Find out exactly where you stand so you can prepare for the next few weeks. Calculate how much money that you're going get (www.redcalc.co.uk) and plan a budget accordingly.

Prepare a cv and then go and visit recruitment consultants who work in your field. Take a lot of notice of what they say - they are going to be very valuable in the next few weeks. Don't worry if the first couple of interviews don't go so well - you will get another job and you may find that after nineteen years in with one employer that the change will be welcome. Good luck.

Just spoke to the Chairman. Basically company will close - they cant even afford to bring in Insolvency people - so what now for me. No redundancy from them or notice - what and where can I get any money owed to me - if it cant come from them?????

Thank you for your kind and assuring words x

wendb69

whitewing wrote: »

Could you get a lodger?

Move in with your parents and rent out your house for a year (get yourself established with some savings)?

Sadly no parents and I have children - so not sure about 'lodger' aspect.

wendb69

Keeping_Motivated wrote: »

Hi I second speaking to ACAS to find out your rights.

Also agree re the SOA, its surprising how much you can cut per month and also you will feel more in control.

Can you take a payment holiday from your mortgage? Some companies/deals allow this? If not, can you change the mortgage to interest only for a little while to allow you time to find another job?

The company you work for have to allow you some time off for looking for a job and interviews.

What kind of job will you be looking for?

Im already on interest only - due to recent divorce, but thanks for good advice.

wendb69

cazziebo wrote: »

If you are sure that the company is heading for insolvency then I'd second the advice to start on an SOA now. If the company runs out of money, and can't pay you, then it could be a long wait for the administrator to pay. (could be a few months.) You will get paid, albeit the statutory minimum.

Speaking to your mortgage company early rather than later is good advice too.

Do you know if you have continuity of service? It sounds as if you may just get 7 weeks pay (1.5 weeks for every year over the age of 41 if that's relevant to you)

It's a horrible time, but for most people I know (and me!) then redundancy was the best thing that could have happened. Don't set your sights too low - your current company valued you at £25k, you may have to accept less but don't undervalue yourself.

I don't think they will be able to get in Administrators - as there is no money to pay the Administrator... so who does sort my redundancy ????

sandraroffey

great idea to ask for a payment holiday. my ex son in law ended up getting a payment holiday for a year and previous to that he had paid interest only for two years!!!! they would rather you talked to them than ignored them. you can do it!!!! and yes do look at the fabulous cheap recipes on here, and all the info about cheaper suppliers for everything. your tax credits should have gone up when you divorced??make sure you are getting everything you are entitled to. when things got really hard for me, i got a lodger. dreaded having to do it BUT it worked like a dream. i never saw him. he didnt smoke or drink, didnt make a noise and it ran on a 6 monthly contract, payment in advance with a deposit in case he ruined the carpet or whatever. and paid me £65 a week, four weekly. he ended up staying with us for almost 2 years. approach your local theatre or university/college, they are always on the lookout for rooms, mostly with B and B. the theatre will pay really good money and you only take people when you want, likewise with the uni. good luck and let us know how you are getting along.xxx

cazziebo

wendb69 wrote: »

I don't think they will be able to get in Administrators - as there is no money to pay the Administrator... so who does sort my redundancy ????

The administrator is called in to sort out the company's debts - it's a legal requirement. If the company really has no money then the government will ensure you are paid redundancy, but unfortunately only the statutory minimum. You would also get any unpaid holiday and notice periods. See here..

http://www.direct.gov.uk/en/Employment/RedundancyAndLeavingYourJob/DG_10026695

Krystaltips

I agree on the payment holiday, Northern Rock allow you 6 months payment breaks as long as you have paid your mortgage for at least 9 consecutive months... I'm sure other companies are the same.