Overpaid - by £120,958!! Overnight Investment suggestions??

Bubble16

I am about to be paid the rather generous sum of £120,958.31 at midnight tonight by my company and was wondering if anyone had any advice, other than a quick trip to South America. It has already, unsurprisingly, been picked up by payroll who want a cheque off of me tomorrow. On the slightly more serious side of things, one which I don't know what the ongoing effects are going to be, they have also paid £20K off of my student loan, substantially more than the outstanding amount left. All suggestions gratefully received! Thankyou

annie-c

Re: the overpayment: Give it back - it's not yours to invest!

Re: ther student loan - why did they pay this? Won't they just do a chargeback and pay the penalty charge for this facility themselves?

JoeyG

But its their mistake and you are having to take action to rectify it... dont know if its worth investing, but you are perfectly entitled to charge for your time!

annie-c

JoeyG wrote:

But its their mistake and you are having to take action to rectify it... dont know if its worth investing, but you are perfectly entitled to charge for your time!

:rotfl: LOL, but you have to work there - and there may be times at work when you make mistakes and need them to tolerate you. If it were people you would never see again, maybe it would be worth a try, but this is your full time job I presume?

JoeyG

They are a company who (i presume) make a profit, they are hardly likely to take it personally... and yes they will tolerate you and any mistakes you make while they can still make a profit out of you, but no surprises there, thats the way businesses work.

Jamz

Book a flight and get to another country ASAP you could live quite nicely on that money

ctm_2

While your payslip shows they have paid a huge chunk off of your student loan, it is highly unlikely that thay have actually apid the money over to the SLC yet, and also quite likely that the normal PAYE deductions for TAX and NI have been paid over yet.

All that is needed on their part is to issue a revised payslip showing the correct amounts, adjust their payroll to show the correct amounts, then you pay back the difference.

I don't think it's anywhere near as bad as some people are thinking it is. So, before writing letters etc I would check the above points with the payroll people.

amfiroda

Personally I would just make sure, that before I write a cheque, I had a mini statement printed out with my amazing new balance on it, just so I could take it out and look at it every now and then!!!:rotfl:

the_postman_2

Meet me in an hour at heathrow, gotta be sharpish, ive got us a one way flight to rio. Once there we split the money and head for the hills. :rotfl:

Bubble16

Thankyou for all the varying advice, jumping on the next plane is still the most tempting if not the most practical. Annie-c I appreciate it isn't mine to invest, I hadno intention of doing anything long term I was merely curious, seeing as none of this is my fault and I can see it entailing some time and effort sorting it out, whether i could make a fiver to cover a couple of glasses of wine to destress afterwards! As for the student loan company, have you ever tried dealing with them? They are bureaucracy at its best!!

I am not going to charge for my time, not that I am anything but perfect myself obviously but the organisation I work for is overstretched as it is and I do sympathise. It is also not 100% their fault, they installed a new payroll system last month and apparently the company who installed it haven't ironed out all the glitches as yet!!

Anyhow, at least I will have a payslip to frame at the end of all this if nothing else, and it is an entertaining story! Thankyou all once again for the advice.

Bubble16

What, you are going to nick half my money and dump me????!!!!! :-)