One thing after another...

pandamania

Really worried about my OH. We felt such a relief when he went bankrupt in August. First the car packed up. An N reg worth less than a £1000, the quote for a new head gasket plus other work didn't seem worth it. My husband was gutted. I was just thinking of the positives - that we could get something cheaper to run, but OH explained that the car was the only thing of any value that he has ever owned . After a month of managing without a car - basically not being able to go anywhere because of where we live(OH uses a loaned motorcycle for work) we now have something but how long for?

Then last night OH got back from work with the news that he has been given 3 months notice of redundancy. His job is low paid, not very good conditions but he loves it - which I think is worth far more than lots of money. He is 38 and has been in the job for 20 years. The worst thing is he is entitled to nearly £5000 redundancy. From what I've read on here he's unlikely to see a penny of it. He won't talk about it - think he's still in shock. Don't know where to start really :sad:

Toto

I'm sorry everything feels a bit crap for you at the moment. A couple of questions though. Is your husband paying an IPA? And secondly, surely if he has been with the company for 20 years he is entitled to a lot more than 5k redundancy? I thought it was one month's salary for every full year?

The OR would have to allow you something for another car I would have thought, especially if your husband needs transport to get another job. Also, I'd check on what you are allowed as living expenses out of the redundancy money if your husband doesn't get another job right away.

pandamania

Toto,

Thanks for replying so quickly! No, he doesn't have an IPA apart from his taxes. As for the car - he was told that he could spend no more than £1000 on a replacement. It was up to him how he raised the money as long as he didn't borrow more than £500 from anyone without declaring his bankruptcy. We have got a £600 car mainly with gifts from family.

We are hoping OH will get an early discharge which if at 6 mths would be early February. The thin is the redundancy is 12 weeks from 1st October so I suppose it will depend on when the payout is due. OH gets 1 week for each year and the weeks pay it's based on is only £245ish as of course it doesn't include the £30 bonus he's got for the last year. I think the bosses knew what was happening and paid bonuses instead of pay rises :mad:.

My main concern is that we wanted to move soon and might have to now for jobs. I can see that it is fair enough that the money goes towards the bankruptcy. However we have no other way of raising 6 mths rent if required by future landlords. Sorry waffling now which I tend to do when stressed. Will have to look into this properly in the morning.

madoldbat

Hi Pandamonia.
So sorry that life is a bummer at the moment.You have coped well up to now.OH must feel so down.I have never been made redundant but my OH has 3 times :eek: .
Im not sure about the redundancy money going to OR I think you would have a good case for retaining most of it.I also thought some form of retraing has to be provided by who ever employs him.But someone with more knowlege will be along later.
I see your in Wales sorry to be nosey but if your OH has low pay dose he do somthing rural?Would he be able to do the kind of work he does freelance?

My OH is a jobbing gardner/repair man.OR was ok about his bussiness account .It looked very healthy with sevral thousand pounds in,but we explained he could only work for 6 months a year as job was mainly seasonal so he did 12 months work in 6, money in account was his wages to cover that.A quick calculation showed he had just enough for his monthly pay to do just that so it was not taken.

Know your OH thinks its the end of the world but it could be an even better start.It was for us, a lot less stress and hes in controle.
For now hugs .

scaredwitless32

Hi,
Really sorry to hear your news, I know just how you must be feeling, we have had rough 'ish' time over the last couple of years with one thing or another, and it ended in my OH being made redundant, forcing us down the BR route :mad:
I hope things turn around for you both very soon, and that you OR is sympathetic and allow you some of the redundancy money! I have no words of wisdom, I can only offer my best wishes for the future!

wherediditallgo

Hi pandamania,

I'm so sorry to hear the news I've had a look at few sites for you. You could ring the Redundancy Payments Service on 0845 145 0004, as they may be able to offer some advice.

The Myvesta site says the following:


If made redundant while bankrupt what % of my redundancy money goes towards my debts?

This is a decision which would have to be made by the Official Receiver. There would be an option to negotiate with the OR in this case. It's done on a case by case basis and it would depend on the total value of the outstanding debts and the amount you received in your redundancy.

It would therefore seem that your OH will need to discuss this with his OR, as it's not automatic that he'll lose all of it or indeed any of it. Good luck to you both.

Broken_hearted

I would have thought they would have to leave a reasonable amont of his redundancy money for you to live on.

NekoZombie

You'd think so, BH, but they tend not to because the OR views it to be compensation for loosing the job rather than to provide for living expenses.

pandamania

madoldbat wrote: »

I see your in Wales sorry to be nosey but if your OH has low pay dose he do somthing rural?Would he be able to do the kind of work he does freelance?

My OH is a jobbing gardner/repair man.OR was ok about his bussiness account .It looked very healthy with sevral thousand pounds in,but we explained he could only work for 6 months a year as job was mainly seasonal so he did 12 months work in 6, money in account was his wages to cover that.A quick calculation showed he had just enough for his monthly pay to do just that so it was not taken.

Know your OH thinks its the end of the world but it could be an even better start.It was for us, a lot less stress and hes in controle.
For now hugs .

Feeling a little better now. OH is a motorcycle mechanic. He has said for a while that he ought to do something else but as you can guess, it's such a big jump when you think you have security of employment.
I was thinking about the redundancy money too. If OH hadn't gone bankrupt yet we would still be in that awful place. OH would have had to use the redundancy towards the debts anyway, there's no way they would have been cleared and we would probably be in the same situation just a bit later :rolleyes:.

We are now concentrating on where we want to move to as our tenancy is up for renewal in one month. We need to find somewhere while OH is still working. OH still not talking about the redundancy much or what he wants to do. But then he thinks I talk enough for the pair of us!

madoldbat

Hi Pandamonia.
Glad you feel a bit better.I think talking about it helps so much.
Understand OH though hes doing his best and someone else pulls the rug from under him.He has no controle over the situation.It takes time to even start thinking stright never mind talking about a new venture.
We moved south in the early 90s.Partly because we were both working stupid hours and we wanted a family and a good relationship more than money:rotfl:
partly because job oppertunities were rare in the North West at that time OH had been made redundant 3 times in 18 years.
So we made a plan:D Looked carefuly at what we could do and were we would like to live.Got the job we wanted with nice people but in south not north well we could move back:rotfl: Were still here:rotfl:
We were blessed DS arrived :T born with cleft lip and palate so lots of trips to hospitals ect We had no idea we were entitlaed to benifits of any kind:o so slowly we began to dig a hole.Blessing no.2 DD born with a short bowel:eek: long story but she survived ,lots more hospital visits.Aware now we could get some help but 2 children + low incom+ hospital = BIG hole.:rolleyes:
Well things carried on ,stuff happend ect hole became a mine:o
OH under lots of stress at work went freelance:eek: .
Still not making much but healthier and happier,children now beautiful teenagers:rolleyes: I work full time not brilliant money by any means but enough.Well it is now we are BR and we can concentrate on us not the creditors.
The point at the end of all this waffle (you are still there?you have not droped off to sleep have you?:rotfl: ) is that we have had to adjust and keep adjsting its been hard some times but we always sit down and work out our options,look at worst case senario and work up from there.

You and your OH will need time to make your changes and looking for a new place to live is 1st on your list.I do so hope that this is the first step in a new adventure together for you.Please try and convince him this could be an oppertunity to do what he wants and how he wants with your help and love.
Keep posting I promiss not to witter so much next time.:o