Quick Guide to Surviving Redundancy by Daniels Kathy

Author:Daniels, Kathy [Daniels, Kathy]
Language: eng
Format: epub
Publisher: Lawpack Publishing
Published: 2010-12-10T00:00:00+00:00

Regular bills

Now that you have sorted out your loans let us look at the regular bills. The first question you need to ask is whether you need to continue with all the payments. For example, if one of your regular bills is for gym membership is now the time to suspend membership until you have an income again?

Split up your bills into the following two categories:

1. Must pay (e.g. Council Tax)

2. Not essential (e.g. gym membership)

Let us start by looking at the ‘must pay’ category. Again, you need to contact the providers of the services that you must pay for. So, contact the electricity and gas company. Contact the local council. Tell them about your circumstances, and ask if there is any help that they can give. They might be able to spread payments over a longer period of time, or give some other practical help.

Think also about ways that you can reduce the amount that you are paying. How many appliances do you leave on standby all the time? Every one is adding to your electricity bill. Turn down your heating one or two degrees – that will also save you money.

Then look at the ‘not essential’ category. You might not want to cancel these payments just yet. Maybe you are very hopeful that you will get a new job quite quickly, and hence do not want to cancel everything only to restart it. However, this is a good time to look critically at the payments that you have listed here.

Do all these payments represent services that you regularly use? For example, if gym membership is one of the payments when did you last go to the gym? Is this time for a fresh look at how you spend your money?

Check also if you are tied into any payments. For example, do you have regular payments to a club that requires a minimum term of membership? If so, contact that organisation to tell them about your situation and that you might not be able to meet the repayments for a while. Ask for their advice and assistance.

The message again is to keep people informed. All organisations know that redundancies happen, and most have procedures in place to help customers who are made redundant. They just want to know the situation. If they do not know the situation and you fall behind with repayments, they are less likely to be sympathetic.

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