at Risk of Redundancy

friendlystu · 8 February 2019 at 3:49PM

Hi

I'm new to the forum so just wanted to get some questions out of the way.
I've worked for the company for 3 and half years and now I'm facing risk of redundancy due to "Downturn in sales and economic uncertainty regarding Brexit"

My line manager has advised me of my consultation period beginning today and ending on the 11 March where a decision will be reached.

I just wanted some advise in regards to outstanding Debt as I have a Paypal Credit account with large balance/agreed monthly repayments as well as Loan with Natwest. If it passes and I'm made redundant as well as not finding another job in time what can I do about this Debit?

Much appreciated on any help given.

Stu

McKneff · 8 February 2019 at 4:45PM

Presumably you mean debt, not debit.

spadoosh · 8 February 2019 at 4:50PM

Well you can not pay it but youll get letters, debt collectors and court action. You can sometimes come to an arrangement to pay lower amounts.

Id concentrate on making sure you have a job though upon redundancy. That mean any redundancy (providing pay is similar) can go towards paying the debts. This is a good opportunity for you to pay a chunk of your debt, try and take it.

Masomnia · 8 February 2019 at 7:16PM

It's a question for the debt free wannabee board really. Good luck with it though.

at Risk of Redundancy

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