Being fired does not always end badly. Some employees are offered high severance pay after leaving their job that can help them maintain their finances until they find a new job. However, when it comes to severances, you want to be careful about signing deals that are unfair or cheat you out of what you could receive. Knowing how to negotiate a better severance deal can save you a ton of money in the long-run. Feel free to ask out Tennessee Bankruptcy Lawyer questions if you were denied severance and are battling with the consequences of bankruptcy.
Ways to Obtain the Tennessee Severance Pay You Want
Negotiating Tennessee severance pay is something that intimidates many people, but should be something that every employee can do when faced with this situation. If not, you may miss out on a financial deal that can save you hundreds or thousands of dollars. The best thing about most severance pay deals is that you do not have to rush them. Employees are normally given at least 21 days to think about the severance deal before making a final decision.
If asked how much severance you want, always ask for more than you think you will be offered. This often has the effect of pressuring the employer to meet you halfway and may increase the original severance offer. Do not hesitate to check out the original employee contract you signed when you first started. Search for any details on severance rights for employees and ask the Tennessee Department of Labor what your rights are regarding severance pay. You do not have to let yourself be taken advantage of.
Ask about other severance benefits like health care, outplacement services, and monetary benefits. Consider whether you would fare better with a lump sum severance being paid to you all at once or incremental payments spread out over months or years. Lastly, do not be afraid to ask a lawyer about your severance options.
Precautions to Take Before Signing Your Tennessee Severance Pay
Be wary about signing a severance deal before you have checked out all the details. Tennessee severance precautions to take include reading between the fin lines for any loopholes in the agreement, rereading important sections, asking questions, and reviewing your employee handbook. Many people fall into the trap of accepting and signing the first severance deal they are given. Just because you have a long history with your employer does not always mean your employer will offer you a deal that is fair.
When trying to increase your severance, read your employee handbook for any benefits you and other employees are promised. Explain these to your employer along with anything that made you stand out compared to other employees. Also, look at Tennessee unemployment tips to manage your finances while you find a new job.
Bankruptcy Attorney in Chattanooga, TN
Losing your job, even with severance, can be challenging. Try talking to our legal team in Chattanooga, Tennessee and North Georgia if you are struggling with bankruptcy. Contact Tom Bible Law today at (423) 424-3116 to talk to a Bankruptcy Lawyer in Tennessee for a free consultation. Our Tennessee bankruptcy lawyers are located in Chattanooga, Kingsport, and Tullahoma.