Redundancy and Debts

[sewingkit]

Hi,

 

Please can someone help me with a quick question?

 

I am due to be made redundant shortly and have 3 Attachment of Earnings orders on my wages, 2 for Welcome Finance (Car loan and Personal Loan) and another one for a Payday advance i could not pay.

 

Please can some tell me:

1. What will happen to them? I presume the court find out I am no longer employed, will they ask how and then....
   
2. Can any of these firms or the court make claim to the Money I am due to get?
   
3. Is there anything I may need to be aware of that could happen
   

Many thanks

Sew

[cerberusalert]

What happens if I leave my job?

 

If you leave your job the Attachment of Earnings Order stops but is not cancelled by the court. If you get another job the Attachment of Earnings Order can be used again by the creditor. You must give the court details of your new employer or the court can decide you have committed an offence and you can be fined by the court or sent to prison. If your creditor stops getting payments and thinks you have a new job they can ask the court to order you to file a statement of means at the court or explain why you have not done so at a court hearing. Phone us for advice . Debt Factsheets - Attachment of Earnings Order

 

If you 'phone the helpline on the site above they'll be able to advise you.

[sewingkit]

Cerberus, thank you for that, very helpful. I will call them shortly.

 

reading between the lines that the court are not infomred of redundancy but it that they just will not receive the money. I was just concerned that there was some "big brother" system that informs them that I have a bunch of cash and then they go back to the firms and all hell breaks loose... (I want to use the money for some I.T. quals and to set up a PC repir business, get back on my feet and make a fresh start not have to give it all away!)

 

It seems OK but....

 

Also, I would like to hear from people with practical experience of this? People that maybe have been through this and have anything to share?

 

Thanks

Sew

[IdaInFife]

normall CAPS (who get the money from your employer to pay your creditors) when they don't receive any payment from your employer will ask them why and the order then stops until you have other employment.

 

Not sure about any redundancy package you may have so if you call the number and get ananswer, if you can let us know what they say or if i find naything out will let you know.

 

Ida x

[IdaInFife]

looks as tho if the AOE was for council tax then thay cannot touch it but for civil debts thay can but doesn't say how much.

 

ida x

[sewingkit]

Thanks Ida, i did not get a chance to call, got tied up at work but will call later today and post back my findings

 

Sew

[sewingkit]

Ida, All...

 

I called the Insolvency service and as I expected did not get a decent answer. Guy put me on hold and went to speak to his manager, cam back on the line and essenetially said the same as what has been mentioned here. I was not struck with his confidence ya know. he just said that the payment stop until I get another job. Not whether my debtors or the Court will find out I have a lump sum and try to make some sort of claim on it!

 

I think I will call a couple more, debtline and CCCS or whatever thye are called and see what the say.

 

I may call CAPS and see what they say but just think theye will say what relates to them only

 

Pretty simple question I think, so frustrating....

 

Will keep this post updated, thanks so far...

 

Sew

[cerberusalert]

I wouldn't 'phone CCCS, although they come across as a registered charity (which they are) they are actually funded by the finance industry themselves so it wouldn't take Einstein to work out what they'd say.

[IdaInFife]

you would maybe be better call national debtline:

 

National Debtline England & Wales, for FREE CONFIDENTIAL and INDEPENDENT ADVICE call 0808 808 4000

 

Ida x