I might be getting some $$, cross your fingers for me!

[Ava]

Just wanted to share my possible "windfall" with my Budget Board friends.

In October of 2008, my former employer laid off everyone in my satellite office (plus hundreds from corporate headquarters as well). We received no notice, no severance, no vacation pay-out, nothing. A week later the company filed for bankruptcy. Over the last almost 2 years I've been getting various notices & forms to fill out from the attorney handling the bankruptcy case, but today I finally got something that indicates this may be almost over and I may be getting some money - a W-4. Filled it out & sent it back in, so crossing fingers I actually get something out of this. My claim is for about $3400, which would be a really nice chunk of change right now! (I know I may not get that much, if I get anything, but I'm hopeful.)

 

[Dopey19]

Good luck!

 

[3boymthr]

Good Luck!

Having dealt with several of them from the "they owe us money" side (luckily it was my co owed money not me personally) I can honestly say corporate bankruptcies seem take forever to be resolved.

 

[Sugardimples]

I don't want to burst your balloon but I had a claim like this once. My claim amount was about $2400. The check I received was for $6.

 

[HM]

I think you'll be lucky to get even 10% of that claim. I hope I'm wrong. Good luck!

 

[lovesmurfs]

 

[Disney_Freak56]

I hate to be the bearer of bad news, too. But we went through something similar when CF closed their doors on Labor Day no less, several years ago. We were owed several thousands of dollars. We ended up with a few hundred dollars 4 or 5 years later. It was taxable income and we had to claim it on our income taxes.

Company bankruptcies never favor the employees. The bankruptcy trustee doesn't seem to consider the employees and their families who are affected by a company closing its doors or laying off employees without any notice. They will make sure vendors are paid first.

I hope you're the exception to the rule, but I wouldn't plan on spending this money before you receive it and it may take several months if not years before you see anything.

 

[DisMN]

Good luck, I hope it all works in your favor!

We're in the middle of a slightly similar situation where, in the end, IF it all works out the people who were dumped will get tens of thousands. Turns out the company lied about going *bankrupt* and it's all in court as we speak. Problem is though I am 100% positive the financial people will guide the company to do whatever they can to minimize what they pay out. $60,000+ or $3000. What do YOU think they'll do? LOL LOL Jerks.

 

[Ava]

I hate to be the bearer of bad news, too. But we went through something similar when CF closed their doors on Labor Day no less, several years ago. We were owed several thousands of dollars. We ended up with a few hundred dollars 4 or 5 years later. It was taxable income and we had to claim it on our income taxes.

Company bankruptcies never favor the employees. The bankruptcy trustee doesn't seem to consider the employees and their families who are affected by a company closing its doors or laying off employees without any notice. They will make sure vendors are paid first.

I hope you're the exception to the rule, but I wouldn't plan on spending this money before you receive it and it may take several months if not years before you see anything.

Oh I know I might get very little, or nothing at all. Definitely not making plans for any money before I have a check in my hands... actually, not until the check clears the bank! I was just excited that after 2 years of getting nothing but notices in legal jargon I can barely decipher, I finally got something I recognize and that is connected with money - a tax form.

 

[Ava]

I had to search waaaay back to find this thread, but just had to post an update - I got a check in the mail today.... for almost $3000!!



Now we just have to decide what to do with the money! We will probably use some to pay for holiday expenses, then pay off our trip for next year, and anything left will go into savings.

 

[dakuhn]

Good for you! Hope an unexpected money windfall comes our way soon.

 

[dakuhn]

Good for you.
Hope an unexpected windfall comes our way soon!

 

[bumbershoot]

Oh wow, how exciting!

Beyond the actual cash, it must feel so good to know that you weren't left entirely bereft when everyone was fired, even though the company *tried* to do so.

 

[GoofyGolferGirl]

Congrats!!!

 

[polkadotsuitcase]

Wahoo!

 

[SSRFred]

Congratulations!!!

 

[horseshowmom]

Hooray!

Glad to hear this. I could use some good news today (even if it's not my own )!

 

[Debi]

Congratulations!