What happpens if company goes bust?

Jet

The company I work for is not in a good financial position and although I know the salaries are covered for this month. Next month. I'm not so sure about.

I've decided to look for another job as I don't like the idea of not having any security even though there are a lot of good points about this job.

My question is this;

If I work for the company for a month and at the end of that month, there isn't the money in the company to pay the salaries, can I claim unemployment benefit and my mortgage insurance policy from the date of my last salary or the date I am asked to leave? I realise that even if the company went into liquidation, I'm unlikely to see my wages as other debtors would be paid first. :rolleyes:

I've never claimed any unemployment benefits before and really hope I don't have to but I would like to know where I stand.

jenchin66

This happened to my husband last month. The company went insolvent making all the workforce redundant and owing the last 10 days wages and holiday pay.

Their redundancy pay and money owing, including money in lieu of notice was paid by the government. It took about 3 weeks to come through.

Good luck it's not a nice position to be in.

Jet

jenchin66 wrote: »

Their redundancy pay and money owing, including money in lieu of notice was paid by the government. It took about 3 weeks to come through.

Really? Thanks for that. At least I know I'm not going to be working for a month for nothing!

I hope your husband finds a new job soon.