Help and advice if you're made redundant

The following information is relevant to AA Personal Loans, AA Mortgages, or AA Savings products, provided by Bank of Ireland UK, and AA Credit Cards provided by Jaja Finance Ltd. Any references to ‘we’, ‘us’ or ‘our’ refer to Bank of Ireland UK, except in the case of information relating to AA Credit Cards where ‘we’, ‘us’ or ‘our’ refers to Jaja Finance Ltd.

How we can help

The prospect of redundancy can be daunting, particularly if your finances are likely to be affected. But there are steps you can take to help you manage any potential difficulties.

First things first:

It’s important not to panic or to put things off. Finding answers to questions will help you make practical plans:

Are you entitled to redundancy pay? How much will this be? How long will it last?
What benefits are you entitled to? You may be eligible for Jobseeker’s Allowance. You can check if you’re eligible or visit your local Jobs & Benefits Office. Claims can take a while to process, even if you expect to find work, so apply immediately.

Do you have insurance cover? Will this help you meet debt repayments while you are out of work? Are you entitled to a refund of tax due to your current circumstances? If you have a pension, what options do you have?

When you have the information you need, start working out a new budget. There is information about budget calculators in our ‘Managing your money’ guide.

Make paying essential bills, any mortgage and any other debts a priority. We’re here to help, go to our contact us page to find out who you can speak to. You can also get free support from the agencies listed below under ‘useful contacts’.

Things to think about:

  • Don’t ignore the problem.
  • Check your redundancy rights.
  • See what benefits you are entitled to.
  • Take time to plan a new budget.
  • Plan ahead – look at savings, investments and pension plans.
  • Consider reviewing your mortgage and other debts if necessary.
  • Talk to us about your circumstances.
  • Consider your employment options and how can you get back into work.
  • Ask for help if you need it.

Getting back to work

How to start your job search

Although being made redundant can be a shock, you should act quickly to make sure you:

  • Get back out into the job market as soon as possible and that you start receiving the benefits you’re entitled to.
  • Go for a New Jobseekers’ interview at your local Job Centre.
  • Refresh your CV and look for work online, in newspapers and magazines, through employment agencies and through contacts you already have.
  • You can claim Jobseekers’ Allowance if you’re unemployed and actively seeking work or working less than 16 hours per week. Go to for more details.

Useful Contacts

  • Citizens Advice Bureau; The Citizens Advice Bureau offer free confidential information and financial advice. Advice is offered in your local centre, by phone or online. For further details go to or call 0800 028 1881.
  • Step Change Debt Charity; Step Change offer free impartial debt advice. For further information visit or call 0800 138 1111 (8am-8pm, Mon-Fri; 9am-4pm, Sat)
  • Department of Work and Pensions; The Department for Work and Pensions (DWP) is responsible for welfare and pensions. Information can be found at:
  • Government Benefits Help; For help with all benefits that may be available to you visit
  • MoneyHelper; MoneyHelper offers advice and guides to help improve your finances and provides tools and calculators to help you keep track and plan ahead. It can offer support in person, over the phone and online. Further details can be found at or call 0800 1387777.
  • Her Majesty’s Revenue & Customs (HMRC); Being made redundant may affect how much tax you need to pay. You should also check if you are owed a refund, as you might have paid too much tax while you were working. For further details go to

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