dont know what to do

[solorider]

as you know the car manufacturing is in tatters at the moment with lots of cars unsold,i have the option of getting a £6000 pay off and leave,but i have a mortgage so 6k wont last long if i dont get a job very quick,the other option is to stay on and have between 4-6 months being laid off,2 months at standard rate,2 months at 50% pay and if it os announces 2 months at 30% pay,i could just survive the 50%pay cut but not the 30% pay,i can hopefully get a mortgage holiday but that costs more money in the long term,what do you think a long holiday or leave and hopefully get another job that may not be as well paid as this one

[glenboy]

Its adifficult one m8,but if i was in your shoes i'd take the money and find another job,hth.....

[NellyD]

as you know the car manufacturing is in tatters at the moment with lots of cars unsold,i have the option of getting a £6000 pay off and leave,but i have a mortgage so 6k wont last long if i dont get a job very quick,the other option is to stay on and have between 4-6 months being laid off,2 months at standard rate,2 months at 50% pay and if it os announces 2 months at 30% pay,i could just survive the 50%pay cut but not the 30% pay,i can hopefully get a mortgage holiday but that costs more money in the long term,what do you think a long holiday or leave and hopefully get another job that may not be as well paid as this one

Sorry to hear that, it must be a very hard to decision to make.. If I was in that situation, I would stay on and find a part time job to get the bills paid and your main wage to cover the mortgage..

Does your partner, contributes as well? If so that should help as well..


It depends on how much you like your job and it will get better in time...

Good luck with your decision...

[Gregg]

Work out which ones the best option money wise
if taking the 6k covers your mortgage for more than the option of staying on at half pay and then less then thats the option to take
Worst comes to you can get a crappy job just purely for money

[mace]

Sorry to hear you're in this predicament. I'm from your neck of the woods so I'm sure I know who you work for. I know a couple of people who've taken the money and run after the first loada announcements before Xmas and they're struggling to get decent paid work. If you're generally happy in your work I'd advise you to try and ride it out. If you've hated it for a while and been thinking about leaving then bite their hands off!

Might be worth looking into seeing if you can get any help with your mortagage payments though. I seem to remember the gov't announced a scheme for people who lose half their income whereby they can stop making interest payments for 2 years. Speak to your mortgage company about your situation sooner rather than later.

Hope things work out for you

[MalcGSI]

The Interest payment scheme, assuming you qualify for it, will cost you more in the long term as interest still accumulates for the 2 years.

[big rich]

i would take the 6k and get another job tbh, things always work out in the end m8

[neverlandandy]

thats a bummer mate not sure what i would do in your position

[n_hudson]

If it was me... I'd stay with what I've got... For part, you'll be getting paid "something" to do "nothing"... Now the problem would be finding a part time job in the meantime, me, I'd just get a job at tesco's or something like that. These companies are doing well, even in this situation so they should be actively employing still, especially for part timers. I'd put the mortgage first, my mum always told me, "If you cant pay all your bills, pay the one that keeps the roof over your head first"...

[mark_w]

how long is the £6k payout offer open for? can you sit tight for a month or so to see how things map out? send your CV out to test the water locally? that's what i would do.