Tag Archives: redundancy

“If I didn’t pay then the bailiffs would be sent”: Faye and Nick’s story

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Contrary to popular belief, most people don’t get into debt because they overspend or live beyond their means.

According to our recently released Statistics Yearbook 2014, the biggest cause of problem debt among our clients is unemployment. Just under a quarter of clients tell us it as the main reason for their debt, with a further 12.8% saying they got into debt after experiencing a drop in income.

These income shocks could happen to anyone. In May 2014, it happened to Nick and Faye* from Birmingham.

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How I supported my partner through redundancy

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You can get through this by working together

You can get through this by working together

Redundancy is far from a pleasant thing to deal with. That’s why it’s important that a person going through redundancy gets the support they need from their partner – emotionally as well as financially. How do I know this? Because in 2012, out of the blue, it happened to us.

I remember my husband telling me he’d been made redundant like it was yesterday. He looked so worried, so uncertain of what lay ahead. We hadn’t had any major money worries since we were students, and now it would be up to me to keep us trucking along until he found work again. I had this dull, heavy feeling in the pit of my stomach thinking about how we would cope.

Thankfully my hubby was able to find work within a few months, but not before we learned some very valuable lessons about our finances during his time out of work.

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Redundancy and your IVA

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This page contains information about debt solutions available in England, Wales and Northern Ireland. Debt advice in Scotland involves similar but different solutions. Before considering an IVA as a debt solution, please make sure you fully understand the risks involved when entering an IVA.

Redundancy and IVAs

Redundancy is tough, but we can help you

The economy hasn’t been in great shape since 2007 and unfortunately redundancy continues to be common in some industries.

If you’re on an IVA and have been made redundant we still want to make sure your IVA is successful and you become debt free.

If you’ve received a redundancy payment then there could be some other options to consider, we’ll help you work out your options. Continue reading »

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25 euphemisms for “You’ve been made redundant”

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A worker is made redundant

“We’re gonna need to go ahead and move you downstairs. We have some new people coming in, and we need all the space we can get…”

Recently UK unemployment reached its highest level for 17 years. The figures – 2.57m jobless – made for grim reading.

And this week we registered our alarm at redundancy figures released by the Office of National Statistics (see yesterday’s post on the subject).

In light of current events we’ve been following answers submitted by the public to “What are the most creative euphemisms for layoffs?” on the social network Quora. It’s made for blackly comic reading.

Given that one of the MoneyAware team was once made redundant due to “headcount realignment” (no joke) we thought we’d list 25 other euphemisms used to try to soften the blow of redundancy (a euphemism in itself when you think about it).

“Stating the bleeding obvious” would be more appropriate…

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