DH redundant & firm bust

[bigbutsrus1]

Basically this week DH was made redundant, his boss said he would pay him his months wages etc but today the firm has gone into liquidation. He has been told he will get his wages from the company who sorts out the debts that need paying off (this us my basic understanding anyway)! He is normally paid on the 10th of each month & we thought we could survive if his wages were soon but now all gone massively wrong I work & we can just about cover our bills - we won't starve but will go under each month (when we have only just into the black & worked so hard). Basically feeling sorry for ourselves but wanted up know if anyone knows how long it will take for the people sorting the companies debts out to pay us his owed wages? Weeks months?

Which firm?

I'm so sorry about your DH. What a nightmare. This article looks helpful as to what he needs to do (I think he should eventually be entitled to statutory redundancy as well)

www.simpsonmillar.co.uk/news/news.aspx?newsid=234

And this

www.purnells.co.uk/limited-company/employees.html

Unfortunately I think it could take some time. I'm really sorry.

www.guardian.co.uk/money/blog/2013/jan/18/employee-rights-administrators?mobile-redirect=false

Thank you for links really helpful

In addition - he should sign on for JSA straight away if he hasn't already done so.

Sorry to hear that, OP. But I fear it might take months for you to see any cash, and that's if there is anything in the company's assets.

Something similar happened to me when I was freelancing: I did about a grands' worth of work for a company that then went into liquidation. I had to register with the debt restructuring company as a creditor (they wrote to me inviting me to register), then wait. In the end I got about £700, but it was at least six months later. If your DH is an employee, though, he will be ahead of outside creditors in the queue for payments. But as I understand it there are no guarantees - it depends on whether the company has any assets that can be turned into cash. A penny in the pound owed is not uncommon.