Redundancy

aero1607

hi can anyone tell me just out of curiosity if you decide to go b/r how would that affect any redundancy payment ie 34k.

tigerfeet2006

The OR would want his cut of it. Not all of it, you will be able to keep some of it, think it is the basic pay bit and the holiday etc. goes but don't quote me on that, someone will be along to say which bit.

How much are your debts? Could you not arrange full and final payments with it?

philnicandamy

Not all OR's are the same though dawn.....I lost over £3000 after redundancy from the NHS a few years ago due to poor health....

debt_doctor

Hi,

Your redundancy payment is at very serious risk.........

31.5.14 Redundancy payments.

A bankrupt may argue that as he/she no longer has a job, any redundancy payment he/she receives will be his/her income. Case law has established that a redundancy payment represents compensation for loss of a job: Hindle v Percival Boat Limited [1969] 1 WLR 174, and Wilson v National Coal Board [1981] SLT 67. Although the amount of the payment is related to length of service and to the level of past salary, it does not constitute compensation for loss of earnings. A redundancy payment will be made to an employee dismissed by reason of redundancy, even if that employee immediately secures another job, and even if that job is at higher wages. 31.5.15 Protecting and realising a redundancy payment
A redundancy payment whether received before or after the making of the bankruptcy order should not therefore be treated as income and the possible subject of an income payments agreement or income payments order but as an asset and realised accordingly.
If the bankrupt has not received the redundancy payment at the date of the bankruptcy order, the official receiver should remind the bankrupt that he/she has an obligation under the provisions of section 333 to give the trustee notice should he/she acquire any property and that this includes the receipt of any redundancy payment. This reminder should be confirmed in writing. Where possible, the official receiver should obtain details of the payer, if it is a private employer or the Redundancy Payments Directorate if payment is to be made under the Employment Rights Act 1996, and arrange that the redundancy payment be made directly to the trustee.


Perhaps as Tiger says, you could look at full and finals instead.

DD