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Bankruptcy & Voluntary Redundancy
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Just wondering if anyone could help me. I have been declared bankrupt since April 5th 2011, my company is currently going through a redundancy process & I am waiting to hear my fate. My question is if my company offers voluntary redundancies and I take it, would this affect my bankruptcy in anyway? I understand that my OR could take any surplus payments but because I have taken it voluntarily would they delay my discharge date?
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1. The OR canot affect whether or not you work. You could leave any job any time while bankrupt & they could do nothing about it. So no - it won't delay your discharge.
2. As you say, they can take your redundancy payment, but you shouldn't simply accept without question that they should do so. It should depend on the amount you get and how long you are out of a job - in other words they should allow some leeway as you could well have a need for some of the money for your reasonable living costs. You may have to have some conversations with them about this before coming to something you feel is realistic in your circumstances.
2. As you say, they can take your redundancy payment, but you shouldn't simply accept without question that they should do so. It should depend on the amount you get and how long you are out of a job - in other words they should allow some leeway as you could well have a need for some of the money for your reasonable living costs. You may have to have some conversations with them about this before coming to something you feel is realistic in your circumstances.
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