Help! I've just lost my job!

[CupcakeBabaPoo]

I was told last week that I would no longer have a job with my current employer. I am currently trying to negotiate severance/notice pay as they offered me the former but nothing for the latter (I have a 3 month notice period).

In terms of practicalities, where do I start? I am a LP with a mortgage. What I have currently being offered is equivalent to about 4 months salary but I need to find a job and work out what I might be entitled to - does anyone know where to start please? I have contacted CAB but they didn't really advise me apart from signposting me to the entitledto website.

You will not get any benefit money whilst you have payment in lieu from your employer and they will not pay mortgage interest either for about 9 months. What are the chances of getting another job? Getting another job is the best way forward.

I am not receiving PILON. I am being offered a compensatory payment so it is not classed as earnings. I am looking for another job but I have a very niche role unfortunately and work is hard to find.

Have you got skills that would be transferable to other roles? Sign up to as many agencies as possible.

I think of my skills are transferable but I won't know I suppose until I apply for a few jobs. I am doing that now but more concerned about the short term.

I think SOME

Morning. (for some reason the enter key isnt working so apologies for the way this is posted). A few years ago I found myself out of work with a 9 month old. I really struggled to find work and though it is not allowed I am convinced the minute they heard I have a baby it was sort of a red flag as your priorities are not your job. Anyway I signed on and one of the first questions I was asked was, are you a homeowner or in rented? When I said homeowner with Mortgagem the advisor immediately said we will need to get you back into work as soon as possible them if we want to keep you your house. I was a little shock, baring in mind as I understood you had 5 years breathing space when you have a young child. But that said, it was always my intention to get back into work for both myself and my child. I was shocked though that it was a case of you need a job or you will lose your home. I felt this was unfair, given that I have always work, always paid my taxes etc. Anyway, I was applying for easily hundreds of jobs (I literally had to start over from the bottom - I used to earn 4 times what I earn now - I have to make it work), but also looking to see if there was any help available to me should I struggle longterm to find work. They dont really mention the mortgage help to you. The case was presented to me that no help was available at all. I had to attend the job centre weekly and go on workshops to show I was actively looking. When I mentioned the mortgage help she quickly changed the subject and said we dont make this an option for a long time so we never discuss it. All I can suggest is be willing to take anything, even if for the shortterm. It saved me my house! But saying that I actually love my job now. Completely different from what I did, alot more basic but it fits around my child and school really well. I hope you get sorted soon. Good Luck

Thank you NGC, your advice is appreciated. I don't even know what my official finish date will be yet as apparently I am entitled to PILON under contract and any compensatory payments are discretionary. It's been thrashed out and I am waiting for a copy of the NDA to come through but it's all a bit pants. I am applying for anything atm. It all just takes time though.

And that's the crappy bit. Jobs are not easy to come by (well I dont think so), but our responsibilities dont take a backseat whilst we work things out. Try and remain positive. As worrying as this time is, it will work out x

Don't you he e mortgage protection on your mortgage should you lose your job? That should give you some breathing space.

I live on the breadline as it is. Mortgage protection was out of my budget. I don't need a kicking now about how I should have had it. I am looking for any old job anyway.

No judgement here hun. I am in the same boat. I think we have been living under that breadline for a while. Thankfully my son never feels it but I often wonder how I am doing it. My sons Dad left us with all his debt (legally mine as was all in my name), and with maintenance only being received twice this year every month is hard. Super hard in fact.There are many things I wish I could afford to cover us for eventualities. But realistically there is no way I can afford it.
You haven't put yourself in this position so try not to beat yourself up. You are doing all you can, and are doing the right things.
Are you able to make any kind of cutbacks on your outgoings? This was one of the first things I had to do and was surprised at how much I saved. Sadly there is nothing more I can cutback on now. But that's a start.
Anything over 16 hours and on a low income you could be eligible for tax credits. It goes on last years earnings however if it is significantly lower for the current tax year then will work off an estimate. That will help as a top up too

I'm sorry, I wasn't kicking you about it. I just thought it was standard and it could have been a life line to you.
Sometimes in panic you can overlook things that can help. This is what happened to my friend about 6 years ago and I was hoping it was the case for you too.

OP, I'm sorry you are in this situation. It really sucks but it's not your fault.

Could you outline the kind of work you so now, approx salary and any requirements such as hours/childcare. I know you won't want to be identifying but approximate would be good. Then we can suggest the kind of roles which may suit your skill set to narrow your search.

Good luck.

Thank you all for your advice, it is appreciated
I work in legal compliance but I have fancied a career change for a while. It involves a lot of communication, time management, planning and the analysis of information to come up with an appropriate solution.
DC is 7 and I have a very flexible CM luckily. However, would definitely struggle with evenings and weekends as his Dad works away a lot.

If you are in UK look at Gov.uk website. I believe if you had a mortgage, benefits used to pay interest only. I believe that this has stopped and you can take a loan from the government that has to be paid back. Can you rent out a room in your property ? Start applying for jobs and ensure that your current employer will provide you with a reference. There may be more info on CAB website

Many mortgage companies give payment breaks and are surprisingly supportive in short term situations like these. Talk to your lender.

Good luck on the job hunt.

Where are you based and what are you salary expectations? Look at transferring to operational risk area, should be a good fit with your background

There is no help with mortgage interest support until you have been on a qualifying benefit for nine months. then as pp says it is now a loan which has to be paid back eventually.