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john66
Contributor

7 Posts

Posted - 02 September 2020 :  12:39:41  Show Profile  Reply with Quote
Hi can you help please I am totally confused with advice I am getting
I am 54 and on a Scottish trustdeed which end in 11 months and have been told I am being made redundant
I believe I will get one half weeks pay for every year I been employed and the sum would be 10000 with out holiday pay
How much weeks do I get to keep with statutory redundancy pay also I need to purchase a vehicle for employment and a driving job which requires you to have your own vehicle so how much could I spend on a vehicle
So in respect how much weeks redundancy can I keep and how much can I spend on a vehicle as a car big enough for delivery cost 5000
Does my holiday pay get paid to creditors

jm

TDA (Debt Adviser)
Trust Deed Expert



13520 Posts

Posted - 02 September 2020 :  13:05:17  Show Profile  Reply with Quote
Hi john66,

I'm not sure whether you're confused with the advice you've already received here, or whether you've also been in contact with your trustee to discuss this?

As Kevin mentioned on your previous post on this topic at https://forum.trust-deed.co.uk/forum/topic.asp?TOPIC_ID=7787 the issue is that different trustees may look at this in different ways. Some may be more generous than others. For this reason, the only answer that you can rely upon will come from your own trustee.

Many trustees allow their clients to retain the statutory element of a redundancy payment. This is the minimum amount that an employer must pay you by law.

Your holiday pay is treated as income. You need to talk to your trustee as to whether they'll expect you to continue making trust deed contributions from any holiday pay that you receive.

Once you've got answers from your trustee you'll be in a better position to work out how much surplus cash might be available to fund the purchase of a vehicle.

Sorry that we cannot give you a clear answer. These questions can only be answered clearly by your trustee.

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Paul McDougall
Trust Deed Expert



92 Posts

Posted - 03 September 2020 :  08:44:30  Show Profile  Reply with Quote
Morning

Redundancy is very complicated I am afraid and the general rule is that your trustee is not entitled to any statutory element although the case law in this matter is not clear.

You may have also received notice pay and perhaps severance pay.

As TDA suggests, I could recommend speaking with your trustee.


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john66
Contributor

7 Posts

Posted - 15 September 2020 :  14:07:20  Show Profile  Reply with Quote
Hi can

jm
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john66
Contributor

7 Posts

Posted - 15 September 2020 :  15:04:53  Show Profile  Reply with Quote
Hi I will be made redundant at the end of September and can my trustdeed take my furlough pay for September
Also are they allowed to take my holiday pay that I have not used ie I am getting 4 weeks holiday pay and 12 weeks notice pay which my trustdeed said they would take and only leave me with statutory redundancy money

jm
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TDA (Debt Adviser)
Trust Deed Expert



13520 Posts

Posted - 15 September 2020 :  15:39:47  Show Profile  Reply with Quote
Hi john66.

Your trustee will look at the income you're receiving (furlough pay plus holiday pay) and ask you to make a contribution based upon an affordability calculation. If you're receiving much more than usual (because of the extra holiday pay) then it's likely your trustee will need to collect in this extra sum to help repay your creditors.

As stated previously, redundancy can be complicated and the only answer you can rely upon is the one your trustee gives you. It's pretty common however for someone to keep the minimum statutory amount and to pay any extra sum received (in excess of the statutory minimum) into their trust deed.


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