oh no. im screwed.

gsxr1

I have been givin 3 weeks notice today. Im being made redundant on the 19th.

I have been paying quite a lot of tax for over 4 years and will receive 6.5k redundancy. So I have a bit of a cushion. I am a chippy.

What should I do to prepare?

I have a Mortgage and kid in the creche. I big credit card bill and an unprotected 14k loan.

Very little saved.

I must be entitled to some sort of benefit to help out while a get a start at somthing else.

Big stone in my stomach as panic is setting in:(

iMax

You can sign on the day you leave work irrespective of redundancy package so do that on that day.

You should also notify the bank and other lender & credit card company of your situation & negotiate deferred payment. You can take the kids out of crech while you're out of work.

End of the day you have a trade & although there's a slowdown in your industry, you could apply your skills to other sectors, window frames, cabnit making etc.

Best of luck.

bren2002

Start working on that CV and getting in touch with recruitment companies. Even if you get an interview straight away you need to be planning for a month or so between first hearing of the job and actually starting it.

What's the loan for? A car? Can you sell it and buy a smaller / cheaper one? Don't need to start on this just yet, but keep it in mind.

You'll be entitled to unemployment benefit from the day you stop working, have a look at the Dept of Social Welfare site for more details.

It happened to me a couple of years ago and to be honest I ended up with a far better job out of it. It was a bit of a pain for the 5 or 6 weeks I was looking but I got though it easily enough.

Athina

Go to your local Citizen Information Centre and they will inform you of all your entitlments. Social Welfare may also pay a proportion of the interest in your mortgage. After you pick up your P45 you may be eligible to apply for a tax refund. Good luck in your search for a new job.

gsxr1

Thanks.

just spent a few hours writing a CV. In construction there was no real need for one till now. You just asked for a job and got it. Times have changed.

After a bit of reading it appears that this misfortune could be turned around to my advantage. I have had a call for a small cash nixxer already.

hope this is a sign of things to come.

Guess the new motorcycle may have to go :(:(

dresden8

Unless you got over 50,000 or redundancy it will not affect your jobseekers benefit.

Go and claim rent or mortgage interest relief from the health board. Don't be too proud. You pay tax and PRSI to cover you for this sh1t. You're only claiming what you paid in. I have a pain in my ass saying that on this board. Claim what you're due.

From 1st February 2007 the disregard that applies to Jobseeker's Benefit recipients is as follows: Amount of Redundancy Payment
New Banding
Period of Disqualification

€50,000.00 - €55,000
1 Week

€55,000.01 - €60,000
2 Weeks

€60,000.01 - €65,000
3 Weeks

€65,000.01 - €70,000
4 Weeks

€70,000.01 - €75,000
5 Weeks

€75,000.01 - €80,000
6 Weeks

€80,000.01 - €85,000
7 Weeks

€85,000.01 - €90,000
8 Weeks

€90,000.01 and over
9 Weeks


http://www.welfare.ie/foi/jb_jobseekben.html#part4

dresden8

http://www.welfare.ie/publications/sw75.html

Don't forget this one, one week in the period will qualify you I think. Ask for the form and make them make a decision. Take nobody's word that you "won't qualify". Always apply and get a decision that can be appealed. May be useful in the future.

Thus endeth the lesson.

dresden8

Actually it doesn't.

For the loans get onto MABS before repayments on those loans become a problem. Don't let that **** spiral out of control. Lenders are happy to get something and avoid bankruptcy and bad debt issues once they get something.

http://www.mabs.ie/

Seriously, sort stuff out now before it becomes a problem.

dresden8

gsxr1 wrote: »

I have had a call for a small cash nixxer already.

Dangerous tactic. May wipe out all the legitimate help you are entitled to. Your choice.

gsxr1

there is something I am not quite clear off in one on the links.

I will receive 6.5k in redundancy. Will this stop the my benefits

iMax

No. The redundancy payment is tax free & will not affect any benefit you should get. remember you are entitled to claim on day one.

They will try to put you off, (my experience), but that is your entitlement.

gsxr1

maybe its time to do what christy moore was on about in his songs of the 80s.

I moved to NY before for lack of work before. Looks like the family will be with me next time. where ever that is.


to those young lads in school . Forget about construction.

When its good its great, but when the economy dips(which is inevitable) be sure you will be first to bite the bullet. tis no fun and all ya have to show for it is a bad back

gsxr1

am i due my holiday pay back. my redundancy payment was 500 less than I thought . 882 gross wage .. service 4 .5 years half a year is not stated in the redundancy notice. the last half. I want to go with a good name also . I really loved my job and want to preserve my name. Should I chase small money.???


i dont want to get screwed . I kept my hols for christmas

billy the squid

Ask your current employer for a written reference before you leave. That should look good for your name.

Also, I wouldn't rush into emigration yet. There should be plenty of large scale construction projects underway in the new year. If you are willing to relocate or commute, you could always keep tabs on say the Limerick Regeneration project, for example.

redarmy

anyone know how long redundancy payments take.waiting 9 weeks

billy the squid

It can depend from company to company. Last time I was made redundant, I was waiting 3 months for it.

redarmy

billy the squid wrote: »

It can depend from company to company. Last time I was made redundant, I was waiting 3 months for it.

thanks billy:(

SarahMc

Don't forget to claim your tax back, and also, if your wife is working, to transfer your tax credits to her.

sfhawke7w

if you can afford it put some of the redundancy money away to cover the monthly outgoings against the loan and mortgage. Also to work out your proper entitlement for redundancy who can use a redundancy calculator online. they are pretty accurate and most companies use them as the company will get some of the money back from the government so it is in their interest to make sure you get the full amount.

as for the payment you should get it the day you leave and when you do you sign a letter stating you are happy with the payment so if you not DO NOT sign anything until the correct figures are worked out.

also if you not working and your partner is you might be entitled to Family Income Supplement as another poster said do not be afraid to ask for what you are due that is why we pay taxes and prsi in this country.

you can sign on and work a small number of hours weekly which shouldnt afffect your money once you keep them informed and i reckon will be lots of people looking for odd jobs to be done so check with sw on that.

if you get paid holiday pay should be your last payment than a p45 issued this can affect your benefits as if you have 4 wks of holidays owing - sw thinking you dont need to be paid for the 4 wks - check this too.

dont be afraid to ask in sw that is what they are there for, i am finishing next friday and have been into sw to ask some questions and they were nothing but helpful.


good luck in whatever you do for the future.

Craft25

if you are having troble finding work for a while, dont be idle, take advantage of some of the schemes for training, either

a) skills to complement your current carreer, site skills, accountancy & setting up a business(if you need to go out on your own later), perhaps you could aim to become woodwork teacher if you fancy a more secure job

b) something new alltogether - you will have to start from scratch but if you got into IT, computer science, engineering - well technology isnt going away and the investment would pay off eventually - only problem is you and the missus would probably have to engage in some serious belt tightening until you get out the other end

Oshare Bones

Craft25 wrote: »

if you got into IT, computer science, engineering - well technology isnt going away and the investment would pay off eventually - only problem is you and the missus would probably have to engage in some serious belt tightening until you get out the other end

I wouldn't recommend this at all. I have a computer science degree and have applied for close to 50 jobs in the last 3 months with no luck. Of the 50, only got 2 interviews, around 15 rejection letters and the rest just don't bother acknowledging my application. Don't believe the media about 10,000 IT vacancies being available it is bs.