My husband has been made redundant, any advice?

[Xroads]

He's worked for the same company for over 10yrs and this week the company went under.

Any advice on how to cope financially and also with the stress and emotions that come with it? I obviously want to give him as much support as I can, it's come at a tricky time (is there ever a right time anyway) I've got a lot on my plate and I'm feeling even more under pressure now so how do I support him and cope with the pressure too?

Financially, tell tax credits NOW, plus contact the jobcenter. He should get 6 months contributions based JSA. It's around £70 a week I think.

If the company went bankrupt and he is owed wages, there's a process to get it back - I'm not familiar with it but citizens advice should be able to help.

If you have a mortgage, does your insurance help out in the case of redundancy?

Put plenty of energy into job search, rather than into panicking! If he is a specialist in a field, randomly contact companies that need his expertise and get on their radar, even if no openings currently available. There's a great book called What colour is your parachute. It's supposed to be for everyone but I found it more suitable for those who are "skilled" rather than say, a shop worker or general office person.

Are you working?

Emotionally, I'd try to see it as a new beginning and an exciting challenge. I've never been in the position ( both DP and I jumped ship with voluntary redundancy, before we were pushed!)

Oops - I haven't been in your position, but hopefully someone can give advice from experience.

Also, on money saving expert forum I saw a thread on redundancy. Might be worth a look.

first, don't have any feelings about it. Only one person has a stable job, HMQ. Everyone else will get made redundant at least once.

second, get on with claiming all entitlements and slashing expenditure.

third, when things stabilise concentrate on building a financial cushion because it will probably happen again.

good luck.

Thanks I'll have a look.

He will get some redundancy money so that is a relief but it will take a while for it to come through.

He's been looking for another job since before christmas and has had a couple of interviews, both times he was pipped to the post, one because of a lack of experience with a new technology (which he is now working on) and the second because of salary and length of notice period.

He's been to the job centre, he's sent his cv to loads of agencies and got the word of mouth that he's looking for a job. While he's off he's updating his training with a package he brought a while ago but hasn't had the time to dedicate to it so this is a perfect chance to get that finished.

I'm working, I'm self employed, I'm a childminder (summer holidays with 7 or 8 children) but I'm also building a business on the side as an artist and florist, the plan was/ is for me to work at both of my businesses on a part time basis from September, I have asked that if he's working by then he helps me get my 2nd business off the ground a bit.