Redundancy/JSA/Children/UNI?

toffeegirly

Hello

Right, I am thinking of taking Voluntary Redundancy (a jump before push situation) and after paying lots of tax will prob be taking home around £45000....I want to use this to clear credit cards and pay a lump off the mortgage immediately...My Wife is in College for a year and I need to go to University to re-train so basically there will be nothing left to live on and we have a young child....will we be entitled to any income support/Job seekers/benefits to help us out for a year or so?? There wont be any savings at all just some debts paid!!!
Any advice appreciated....many thanks

Grovester_2

You can claim the same benefits taking voluntary as with normal redundancy. Although you've volunteered it's the company choosing to make redundancies so all benefits remain the same.

That's quite a large payout have you been there a long time or is the offer for VR that good?

toffeegirly

hi there thanks for the reply, yes been there for 13 years....Like i say that amount or just under is after tax. So is it ok to pay off as many debts as i can and then claim?? Many thanks

Grovester_2

I only know about JSA.

Can't say for sure but benefits are based on personal details. SO I may be able to pay off part of my motgage and you may not.

Unfortunately the government will reward you more if you have been stupid with money and not saved anything. If you have savings you are less likely to get benefits. if you have over 16k you probably won't get anything.

But speak to the experts you may be eligible.