OMG! Dhs company just went out of business and we are now income less! Dirty jerks never even gave us a warning!

[MaryMary]

About 25 years ago I was a call center clerk working for a gasoline credit card company. One of our customers was a large egg farm. They had been in business for 100 years and had dozens of trucks that delivered all over California. When everyone woke up and decided that eggs had cholesterol and were bad for you, their sales tanked. They declared bankruptcy. [/FONT][/COLOR]

In my job, when we received notice of a bankruptcy, I was to go through the charges and look for any reason we could possibly "charge back" to the local station. Usually there would be a couple charges we could charge back because they had not followed the proper procedures. In the case of the egg company, every truck that came through was a purchase of more than $50. We had a policy that you were supposed to call and authorize all charges over $50. They'd been bringing these trucks several times a day to this station down the block for 50 years. No one took 10 minutes to call and get an authorization (this is in the days before you could do it electronically). I charged back something like $20K to the station. We still took a good loss as the parent company on smaller charges that added up, and outstanding balances that were past the charge back time frame, but the local station was DEVESTATED.

Their payroll bounced when we pulled $20K out of their account. Their tax check bounced. The owner's home mortgage check bounced. It was awful but there was nothing else I could do. They ended up declaring bankruptcy themselves a few weeks later. I did call and explain to the owner it was coming but she really had no notice, it hit her account the next day. I’m sure she wouldn’t have had the time to tell her employees it was coming. She was solvent and doing great one day and unemployed and in debt the next.

So, I don’t know what happened in your dh’s boss’s case, but just wanted to point out that there can be quick ripple effects that can push hanging in to crash and burn very fast.
[/FONT][/COLOR]

All the best to you!
Tess

For how long these egg co. bills were not paid? Even if they carried a balance for gas charges you cannot charge back to merchant anything which was paid by the account owner, that's if they (account owners) will not dispute it.
If I'd be that gas station owner I'd sue CC co. But likely that case was long time ago, I'm sure CC regulations has changed since then.

Agree with Tess that your DH shouldn't wait any more then a couple days to start looking for another job, even if you have savings enough to hold you and he'll get unemployment right away.

[justmeagain]

Well.........I certainly do NOT like welcoming people to the no employment, no household income club. But since we have been through this (still in this mess).......I just want to let you know you will be in SHOCK for awhile. I think I was in flat out SHOCK for 2+ weeks. Once it wears it off.......and unemployment comes in.........you just do the best you can with what you got. With no jobs here, our family has grown a total "whatever" attitude.

[Lucky1307]

I'm so sorry, sending hugs and prayers to you and your family. I too agree with filling out all apps as soon as you can because of the delay in the system. Hopefully your DH's check will clear and be one less head-ache.

[greenrays]

I'm so sorry!!! This just happened to my Uncle also, no notice or anything after working there for a really long time.

Hopefully this is just a leap into a much much better job or opportunity for y'all.

[hbaqueen]

Thanks for the advice, prayers and kind words everyone.

I feel like crap today I think Im getting sick that would be my luck wouldnt it? Ugh I hope not I hope its just stress and sinus junk combined.

While I know its possible some companys dont know Im positive this dillweed did.
Yes dillweed is my own made up bad word for crappy people!!
They have been messing with their pay for weeks and acting strange. And hes a crook IMO.

DH has been looking for another job for months since his salary was cut and then his hours increased. But when you dont have much education and you live in a podunk area your options are not great.

Im positive he will be making all the calls and visits he needs to today he is always on top of things like that.

Also, I shouldnt be surprised because I know how he is but his worth ethic seriously speaks for itself. He went to take care of his client today even though chances are great he wont see any pay.

I have to agree with Tess on the not holding my breath part because supposedly they are saying the IRS was involved in the shut down so I doubt we will see a penny of monies owed. Plus that will take months anyway Im sure and if our check bounces so will all the checks Ive already written out of it for my utilities!
He took all the cash we budgeted for things (doing the envelope method) and was gonna put it and our savings back over into checking. So, hopefully we will be fine with the checks we wrote. But only since we found out from a 3rd party that it could happen!

That man is such a crook and I hated DH working there anyway but it was the only decent paying job he could get. I realized they were crooked when they started taking $$$$ out of our check for insurance we didnt qualify for and not only would they not put it back but the owner wouldnt take my calls.
Then he cut Dhs pay by over a 1/3 and increased his hours to 80+ a week and since he was "salary" he could legally do it.
Like I said he wasnt happy there and he was actively looking for other employment but we had to live so not much choice. He has been aggressively looking for 6+ months but he was always keeping his eyes and ears open and putting in aps for over a year.

Weve actually been no income for 6 months before and between that and our medical problems we drained our savings.
But atleast we knew that one was coming. It was a government job and we saw the $ they wasted and then the boss was fired and then lay offs on down the line and we knew DH was on the chopping block next. They were out of money so they only kept like 3 people. But we had a lil warning there.

This is just bam go to work come home your not getting paid ever again.

And the kicker he was 3 days from getting his vacation pay, isnt that irony at its best!

PIT in your stomach is right! Blech! I feel ill!

I dont know just please pray for us that God will open another better door very soon.
And that he will keep us safe and healthy.

Thanks guys!

[tacatcon]

Have no advice for you but I just wanted to send you a big hug and my hopes that he lands on his feet okay! It totally sucks to have this happen period but especially with no warning!

hang in there

[Dengineer]

[quote=tmsmalley;2207893][quote=jen276here;2207616]Even if they go bankrupt, I believe there still is an opportunity for him to collect on any unpaid wages, although it may take some time.

I'm very sorry too. If there is a bankruptcy however, even though employees are entitled to their wages, they're going to be in line after the IRS, any child support or alimony owed (if applicable), rent, and then finally, we get to employees. In some cases unsecured creditors can even come before employees depending on what kind of bankruptcy and the circumstances. Either way, unfortunately, isn't very likely that you're going to see anything. If you do, you may only get 10 cents on the dollar or something too and it may take several years to get it. When I used to handle bankruptcies, we often got a check for $1.48 once every 3 months against a balance due of $1000 or something.

So, for now, just write off in your head whatever is owing and move on. If you do ultimately get it, then that's great, but don't waste a lot of energy on it right now. You may also be lucky and the check that was deposited might have been one of the ones that cleared. I wouldn't spend any money out of that however because if it didn't make the cut off it is going to be your overdraft.

As someone else said, he should file for unemployment right away because there is a gap between when you file and when you start getting paid. You should also apply for food stamps and/or WIC if applicable. If you don't qualify, they can tell you but if you don't apply, nothing will happen and there are lags on when that starts too. Someone on another board I read was just saying that there's a 2 month wait in her area for food stamps to start or renew!

Dh should take a day or two to regroup, then lose any (albeit justifiable) anger he has and get his resume in order. There are great (free) resources at Monster.com. Go to their message boards and you can get help with resumes, interviewing, etc. Dh HAS to lose the anger (or at least hide it really well) otherwise it is going to peak out during interviews and sink him. He should not speak badly of the employer at all. Just say "Acme went out of business" and leave it at that.

Finally, if you can, remember that these kinds of things can happen very quickly to a business. The boss may not have had much warning. Some money he was expecting may not have come through, someone else may have shorted him and if he's teetering on the brink that's all it takes. I have to admit that I'm responsible for creating a company's bankruptcy myself. About 25 years ago I was a call center clerk working for a gasoline credit card company. One of our customers was a large egg farm. They had been in business for 100 years and had dozens of trucks that delivered all over California. When everyone woke up and decided that eggs had cholesterol and were bad for you, their sales tanked. They declared bankruptcy.

In my job, when we received notice of a bankruptcy, I was to go through the charges and look for any reason we could possibly "charge back" to the local station. Usually there would be a couple charges we could charge back because they had not followed the proper procedures. In the case of the egg company, every truck that came through was a purchase of more than $50. We had a policy that you were supposed to call and authorize all charges over $50. They'd been bringing these trucks several times a day to this station down the block for 50 years. No one took 10 minutes to call and get an authorization (this is in the days before you could do it electronically). I charged back something like $20K to the station. We still took a good loss as the parent company on smaller charges that added up, and outstanding balances that were past the charge back time frame, but the local station was DEVESTATED.

Their payroll bounced when we pulled $20K out of their account. Their tax check bounced. The owner's home mortgage check bounced. It was awful but there was nothing else I could do. They ended up declaring bankruptcy themselves a few weeks later. I did call and explain to the owner it was coming but she really had no notice, it hit her account the next day. I’m sure she wouldn’t have had the time to tell her employees it was coming. She was solvent and doing great one day and unemployed and in debt the next.

So, I don’t know what happened in your dh’s boss’s case, but just wanted to point out that there can be quick ripple effects that can push hanging in to crash and burn very fast.


All the best to you!
Tess

Great words of advice and perspective--sad story though! ITA with getting past the anger and writing off what is owed for the time being.

OP, I am very sorry for your DH's job loss. I wish I had tons of great advice, but I don't. What I will suggest is that you and your DH need to find some "creative income" in between now and when he finds another job. Sell coupons, if you have some excess stockpile sell some of that, have a yardsale of other stuff around your house. If either of you have anything you could do for pay--babysitting, handyman work, tutoring in any area, etc.--get the word out to everyone you know that you are in business.

[Dengineer]

[quote=Dengineer;2208282][quote=tmsmalley;2207893]

Even if they go bankrupt, I believe there still is an opportunity for him to collect on any unpaid wages, although it may take some time.
Great words of advice and perspective--sad story though! ITA with getting past the anger and writing off what is owed for the time being.

OP, I am very sorry for your DH's job loss. I wish I had tons of great advice, but I don't. What I will suggest is that you and your DH need to find some "creative income" in between now and when he finds another job. Sell coupons, if you have some excess stockpile sell some of that, have a yardsale of other stuff around your house. If either of you have anything you could do for pay--babysitting, handyman work, tutoring in any area, etc.--get the word out to everyone you know that you are in business.

Disclaimer--please note I meant sell your services clipping coupons, not the coupons themselves of course!

[Ggbwg]

This is very similar to what happened to us as well.

I am sorry it happened, and no it is not right. Sending prayers for your family for there to be some sort of light to shine for you.

[bigsweetie]

Great advice Den!!

I'm so sorry about what happened to you! I can't imagine what that must feel like. I'm constantly waiting for the ball to drop with DH's job. They say everything is good, but you just never know these days! They said January would be a busy month and it's been slow thus far so i'm holding my breath. DH's boss is impulsive and panics during their usually slow months (Jan-Mar).

I agree with Den though about trying to find some creative ways to make money. See if a church or other organization will pay you to host a couponing class! Couponing is becoming more and more popular in this economy! Just a thought. Or you could always make diaper cakes. They cost about $30-$40 in materials (that's w/o coupons) and sell for $100-$150. They're easy to make, here's the instructions! Cool Baby Showers - Diaper Cake Instructions Part 1 (the one she makes in the example is ugly, but you get the idea!).

(((HUGS)))