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| The independent answer to your debt problems | login join |
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part-timer
| 05-12-2011 04:44 PM |
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Joined: 07 Mar 2011 Posts: 2 | I have been in my TD since May 2009 and hope to fiinish next May, 2012. I have paid monthy instalments up until April this year when my payments had to stop as I had to move to part-time employment due to stress at work andsubsequently less salary. There is a possibiity that I may be made redundnt due to restructure of our organisation - not sure how this will affect my TD and if they wil take any severance pay I will get. I m 62 and it will not be easy to find a job as I live in a small town. |
| DW George | 29-12-2011 02:48 PM |
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Joined: 01 May 2007 Posts: 1037 My Profile | If you were to be made redundant then you should notify your Trustee ASAP. He'll most likely allow a payment holiday until you get another job. If you received a lump sum then the statutory element would be safe as this money is designed to cover essentials such as food electricity etc. The windfall part of the payment will be used by the Trustee to pay off your creditors. Anything left will be returned to you. |
