Redundancy

kim_35_2

Hi everyone,

Just looking for a bit of friendly advice from anyone who has been in the same situation.

I currently work full time and so does my partner. He phoned me yesterday to give me the news that his work is closing and he is going to be made redundant.

The situation is we have only just moved into our first flat together at end of March and out lease runs out in September, and will be on month to month basis thereafter, but if we want to leave we have to give 2 months notice to letting agents.

That do we do? Do we panic and plan for the worst and give the flat up and move back to parents until he finds employment elsewhere? Or do we stay put and risk not being able to pay bills in the hope he finds employment elsewhere fast?

My initial reaction is to give the flat up and save the money we can until his redundancy goes though, then we can get some savings together, I have been in debt before and still paying for it now and dont want to get back into that situation. Plus I know it will only be until he finds another job and not going to be forever.

Where as my partner wants to stay in the flat and wait and see what happens, which I can understand as moving home again is like taking a step backwards.

Its so hard not knowing whats going to happen, he could be made redundant in next 3 months or he could be lucky and be there till next summer.

Cant afford the flat on my wage alone and had a look on a website to see if we are entitled to any benefits but looks unlikely due to my earnings :mad:

So confused

Grovester_2

I'd stay in the flat. 3 months is long time. As long as your sensible you'll manage to pay the bills. Is he likely to sit around all day doing nothing or would he get any reasonable job to contribute to the bills? That the question you need to answer.

kim_35_2

Grovester wrote: »

I'd stay in the flat. 3 months is long time. As long as your sensible you'll manage to pay the bills. Is he likely to sit around all day doing nothing or would he get any reasonable job to contribute to the bills? That the question you need to answer.

3 months is a long time with no income coming in to pay bills, as mentioned my income will not cover rent, council tax, utilities, my car which is only mode of transport to work due to us staying in a small village.

But when looking for jobs 3 months is a very short time, I know this from experience myself. Of course he will be making every effort to find a job and is not particulary fussed about what he does in the short term to earn an income, just as long as he gets one, but i suspect with the current economic climate he will be one of the many hundreds applying for each job advertised.

He also has been very lucky with his job, has been there for many years and it is in our village, he will need also to consider travelling costs which we havent taken into consideration before, we share a car, dont have one each

Just think it would be the safest option to give up flat, although this is not something I want to do at all. Do other people agree?

McKneff

Dont panic, youre all grown up now so
sit down together and sort a budget between you.
Is he entitled to any redundancy money, payment in lieu of notice.

He should at least be eligible for JSA so that will be a help.

Write down all your incomings and outgoings, get mobiles on to paygo if they are on contract. Get rid of your landline if you have one. Ditch all unnecessary expenses till he finds another job.
I'm sure you could do it and be able to stay in your home.
Keep posting on here for any moneysaving ideas.
Good luck

kim_35_2

Thanks McKneff

I am a bit of stresshead so kinda worried, although I have calmed down since yesterday when he found out.

Already took first step I suppose, ment to get sky today and cancelled it, and not taking broadband out.

Its the not knowing that is worrying thats the worst. Even if we do a plan I still dont think we would be ok, Have to wait an see, he will get another update from his employer in 30 days

McKneff

You'll deal with it.
and good for you with the Sky and broadband.
At the moment he is working so you can cut down now (youve made a start already)
He will be entitled to redundancy pay if he has worked there for over 2 years
and will be entitled to a weeks notice for each full year he has worked for the company so hopefully that will set you on a bit.

It all seems frightening at the moment but take it one step at a time.
and I'm sure you will be okay.

There is always someone worse off, couple next door to me both lost there jobs a few weeks ago because they worked for the same company.
good luck