Company gone bust

[edition]

Hi,

Just left my old employer and due 1 months pay and all my holiday pay.

Now as it did not go in on time I gave them a call and they advise they about to fold.

Anybody know where I stand? Have I lost all I'm due?

Thanks in advance.

[Slurms]

Sad to say but probably - if they are going to go broke then try and get them to pay before the administrators turn up, because once they take over then you'll end up way down the list of creditors.

[Eric Mc]

Slurms said:

Sad to say but probably - if they are going to go broke then try and get them to pay before the administrators turn up, because once they take over then you'll end up way down the list of creditors.

Legally, arrears of wages are ranked above other creditor (and that includes HMRC).

It depends on what is left in the company coffers at the point of winding up.

[edition]

Thanks for the relpys guys!

As for money left over once it is broken up I can't see that being much!

Does anyone know anything about the national insurance fund? Would I be able to claim through that?

[Eric Mc]

Only the standard Jobseeker's Allowance. National Insurance is not "insurance".

[edition]

My ex employer is advising that there is some government fund for unpaid wages....... Am I being told porkies???

Thanks or the help!!

[Stevenj214]

edition said:

My ex employer is advising that there is some government fund for unpaid wages....... Am I being told porkies???

Thanks or the help!!

I can't remember the details but it's something like that. Get a hold of the administrators and they can send you whatever forms you need to get the ball rolling.

[edition]

Thanks better not rely on getting anything then by the sounds of it!

[TurricanII]

I claimed from the National Insurance Fund almost a decade ago, something like up to last 8 weeks unpaid salary can be paid to you. Google a contact number and call the gov for help. There are some minor caveats, such as length of service in the job. And they ask for your payslips, which the company may be able to produce for you if you did not keep them. They don;t cough up for bonuses either, I think it's just basic pay.

We had a guy from the government turn up with forms and advice.

Took a few months to get paid, so don't expect to avoid any financial disruption but it was obviously a welcome cheque!

ETA, the directors and owners of the failed company had been deducting NI and tax from PAYE salaries and did not pay it to the govt either, but this did not affect out entitlements. We may have been covered because our payslips always showed that NI and tax had been deducted.

Edited by TurricanII on Monday 3rd October 21:34

[ralphrj]

http://www.direct.gov.uk/en/Employment/Employees/P...