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T O P I C R E V I E W
carl
Posted - 11 August 2010 : 10:33:13 Hello there
Does anyone know what may or will happen with any redundancy payment that I receive after I have handed my forms in at court? I have handed in my forms at court and I'm waiting for the OR to get in contact with me.
I work for the local Council and we have been told that redundancies will be happening around September/October 2010 (unknown if it will be me)
I owe approx 20k and I think I will be entitled to about £4000 redundancy.
Thank you
2 L A T E S T R E P L I E S (Newest First)
Richard P
Posted - 12 August 2010 : 14:31:43 Hi Carl
if you are more than likely to be made redundant would it be a better call to postpone bankruptcy ?
If you are BR it is likely that you will loose all / most of the money.
you may be able to use the money to clear a huge chunk of debt and avoid bankruptcy (this is if you manage to walk into another job)
or use the money to survive and support your family
talk to one of the experts about buying time with your creditors
Richard
gettingoutofdebt
Posted - 11 August 2010 : 18:19:04 You will need to declare any redundancy payments that you receive to the OR and they will probably take all, or at least a large chunk, of the money and pay it to your creditors.
