Repayment of a sign on Bonus

[grey101]

I would be very appreciative if anyone could help me with this, or point me to somewhere I can find out:

I worked on a graduate scheme for a large mutinational company in the UK for about 6 months. They paid me a £2000 sign on bonus, which was repayable if i left within the first 2 years. The job was a joke and I left and now they want the money back "or they will begin legal proceedings in order to recover this amount".

Essentially, I don't have the money. What legal action can they persue to try and get it back?

Thanks very much,

Graham

[sara3]

most likely through a Small Claims court.

you'd do better trying to reach an agreement to repay with the company.

[factor-fiction]

What action can they pursue? They can take you to court and I expect they will get a judgment in their favour. You will have to pay it back, maybe over time. Maybe it will affect your credit rating.
When you say you " don't have the money", do you have a car, PC or phone or any other assets you can sell? Will you not be working and earning?
Maybe you should offer to pay it back in instalments, although I think they will say no.
However I amsurprised they didn't deduct the money from your final spalary payment

[grey101]

Thanks for the responses.

I have just started working and earning again, but, I do not have £2k sat around, and will be spending the majority of my money every month on rent & other costs. I will not be able to summon up a 2k lump sum.

I think I am just naive then, i was hoping it just wouldn't be worth their rime in persuing me through small claims courts for the cash, especially to a company of this size.

Does anyone know for sure if ti will effect my credit rating?

thanks again

[boxtops]

They will pursue, you signed a contract. The best thing you can do is not to ignore it, but to get in touch with them and try to work out a payment plan (if they will let you). If not you may have to go to your bank manager and see if you can get a loan.

[factor-fiction]

I expect they will pursue it and any judgement against you will affect your credit rating.

[boxtops]

Yes factor, I agree. From the company's point of view, they can't have people signing on willy nilly, taking the £2K then doing a runner - that would be stupid. You have broken the contract so you have to pay.