79

If it was me, I would count the bonus lost. You need money to live, and they are not paying you so the answer is obvious: seek another job (or three). I'd have a chat with your manager about you stopping work and explaining that you are your family's sole source of income. How they react will dictate how you proceed. If they get all upset with you, ...


48

Not paying your salary is a form is constructive dismissal. That is grounds for filing an unemployment claim — possibly the fastest way to get money for paying bills that doesn't put you into further debt. You can still sue to reclaim the wages owed to you, but that will take more time.


31

My fear is if I resign I will not get paid my salary or my bonus. You will almost certainly get paid your salary up through the time you stop working. You might need to have a lawyer fetch it for you, but that salary is yours. They must pay it unless they prove something serious like you didn't come into work for that period. Before trying a lawyer, see ...


22

When you work for a company, there are a lot of expectations of you: prompt attendance, follow instructions, accept criticism, handle all the work stress, and all the things that go with good performance and a job well done. In turn, the company has one obligation: to PAY YOU. On time, in full, every payday. What you are describing is not a job. They are ...


18

You should alert the NY State Department of Labor here. Failure to pay salary is unlawful. I have to warn you, most people's experience is that they never get paid anything. In California, employee back wages are a preferred item in corporate bankruptcy. No idea about New York.


9

Are you able to keep the house, rent in Texas and let your Michigan home out to some renters? If you can find a renter and rent something for yourself in Texas at a similar price, you should be able to keep making your repayments.


9

To a mortgage lender, it appears that you have a temporary contract (perhaps extending for nine more months) with a agency that supplies workers to companies that need temporary help. You have been placed currently with a company and are making good money, but that job might disappear soon and then you will have no income while your recruiter tries to find ...


7

Your question has generated a lot of discussion and advice about what to do regarding your employment and seeking to collect your salary. I can't add anything constructive there. Here's what I would do with the $8.5k of cash that you have: Pay rent. You need to keep a stable place to live for your family. If you are on good terms with your landlord, you ...


6

If I was wrong please let me know how so I can learn for next time. This is way off-topic for Money.SE, but I feel compelled to offer my advice. Feel free to downvote and I'll consider deleting (or flag for migration). The mistake you made was not discussing it with your fiancée before turning down the offer. You are not married yet, but you have made a ...


6

There's a couple of nuances to bear in mind. If your employer is subject to COBRA requirements, as Ben Miller mentions, you'll be able to continue your coverage via COBRA as long as there was no gross misconduct. Continuation coverage must be continuous, you can't have a break in coverage. (e.g. if you lose coverage June 30, you cannot elect to have COBRA ...


5

Yes, you are generally eligible for COBRA if you quit your job. According to the Department of Labor's COBRA FAQ (Q5), "Termination of the employee's employment for any reason other than gross misconduct" is a qualifying event. When you use COBRA, you pay the entire premium yourself. Many employees have absolutely no idea how much their employer pays for ...


5

Not getting a notice doesn't reduce or eliminate your contractual liability, you still have to repay the loan. Generally you have to do it within 90 days after leaving your job, that is the grace period. If you don't repay the loan, it will be considered distribution, and taxable (including the 10% penalty). You cannot roll over a loan to IRA, you have to ...


5

As a follow-up, I was able to find a bank that gave me a loan. I just called several banks listed on Yelp, and one ended up working with me. It is also possible that the previous banks misunderstood me and assumed I was 1099 and not W2. I made it very clear to this guy that I was W2, and there was absolutely no problem. Also, it turned out the recruiter I ...


5

Many big companies self insure. They pay the insurance company to manage the claims, and to have access to their network of doctors, hospitals, specialists, and pharmacies; but cover the costs on a shared basis with the employees. Medium sized companies use one of the standard group policies. Small companies either have expensive policies because they are a ...


5

For the majority of banks (in the US), it will have no effect at all. (Banks that do manual underwriting may have their own custom rules.) The rate you receive for a mortgage is based only on your credit score, and your credit score is independent of your income. (If you have zero income and still manage to pay all of your bills on time while maintaining a ...


4

Your employers insurance premiums will definitely go up if there are a lot of claims when it is time for them to renew their policy. It is also possible that if this happens the employer will pass along some of the additional cost to employees. The insurance company will not try to have you removed, it doesn't work that way with group policies. They just ...


4

The HSA will continue, and you can use it with the new company even if they don't have a HSA or high deductible plan. If they gave you money lump sum to cover the deductible then that should remain in your account. If they are giving you money every paycheck, then it will stop when the paychecks stop. Check the plans paperwork to make sure. You will have to ...


4

You cannot deduct the cost of your time because you didn't pay any money to deduct. Since you're unemployed, you cannot claim lost wages (even if you could - you wouldn't be able to deduct that), so your time is a non-deductible expense. Note that in the instructions they say it very clearly: You can deduct amounts you spend for preparing and mailing ...


4

I would do a direct transfer to an IRA first. Then look carefully at where you will end the year, i.e. your 'taxable income' line. The worst thing on can do is to not quite understand the difference between gross income and taxable. If you are at, say, $65,000 taxable (which can mean 80-100K gross, depending) you would want to convert only as much as $5700 ...


4

You can make the rollover at a later time without a problem. If you are rolling from a 401k to a Roth IRA, the timing will affect your taxes. If you are rolling from a 401k to a Traditional IRA, also called a Rollover IRA in this case, you can do it at any time. The only exception would be if you have less than $5000 vested in the 401k they can force ...


4

You may think it sucks to have learned a crap ton of category theory, which is seemingly useless outside of academia, but have you considered picking up a "functional" programming language, e.g. Haskell? How about Java or, more recently, Scala? I would bet that you would love Haskell. And then you can make a fortune working at Jane Street Capital, which ...


3

They are looking at your work history to see that you have maintained a similar level of income for a period of time, and that you have a reasonable expectation to continue that for the foreseeable future. They are looking to make a commitment for 15-30 years. They see the short term contract, and have no confidence in making a guess to your ability to pay. ...


3

Each company gets to select which pension provider(s) they will deal with. You can certainly ask your company to consider paying into a different pension but you can't force them to. Many/most companies will say no since they don't want the overhead of dealing with more than one provider, although I did once work for a company that had a policy of paying ...


3

Some of this may depend on how your employer chose to deal with your notice period. Most employers employ you for the duration (which means you'd be covered for March on your insurance). They could 'send you home' but pay you (in which case you're an employee for the duration still); or they could terminate you on your notice day, and give you effectively ...


3

Hit the Panic button. Ring up all your friends in your industry. Try to find a replacement job, ASAP. Honestly, you should have done this the moment the company failed to pay your bonus due to financial difficulties (related to an investigation..) Your Bonus ... and your back pay.. you can try to get them back in bankruptcy court ... You are still ...


2

I just withdrew the the amount for the partial loan payment, so now I end up paying only partial penalty for the amount i needed to fulfil the loan.


2

I think you could handle it in the following way. Roll over your current 401k balance to 401k at your new job ($30,000) Take out a new loan from that 401k for $10,000 - and use the $10k, + $20k you have in the bank to clear your existing 401k loan. (You could also take out $15k, and leave $5k in the bank)


2

It sounds like you're massively under-selling yourself. You presumably have a degree to get into the PhD program, and you now have work experience as well. But you're applying for jobs in fast food restaurants. You may struggle to get a job because they will expect you to only be there a few weeks until you find a "proper" job.


2

I think you are running into multiple problems here: Condo financing generally seems to be the last one to become available again after a property slump, so getting it at the moment can be hard As everybody else pointed out, you are currently a "temp" worker and the promise that your current client/employer will hire you full time might well not be worth ...


2

For the rollover, you should probably talk to the recipient manager. This would be your broker or whomever (your new employer if rolling into another 401k). They should be able to update you on progress and let you know if you need to do anything. In a comment, you say I could be putting in money but instead im lossing. There is no requirement that ...


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