Log in
Register
Search
Search titles only
By:
Search titles only
By:
Log in
Register
Search
Search titles only
By:
Search titles only
By:
More options
Toggle width
Share this page
Share this page
Share
Facebook
Twitter
Reddit
Pinterest
Tumblr
WhatsApp
Email
Share
Link
Menu
Install the app
Install
Forums
Law Firm Events
Law Firm Deadlines
TCLA TV
Members
Leaderboards
Premium Database
Premium Chat
Commercial Awareness
Future Trainee Advice
Forums
Aspiring Lawyers - Applications & General Advice
General Discussion
Help please! Withdrawing TC offer after LPC
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Jessica Booker" data-source="post: 87393" data-attributes="member: 2672"><p>I have worked at firms where you paid it off in monthly instalments. I had someone do this after doing the GDL and LPC and they had over £30k worth of repayments, which were spread over 7 years (basically £350 a month).</p><p></p><p>I have known other firms where you will need to repay it fairly immediately though and have known people having to take loans out to repay them - that is tricky if you aren’t in employment though, and I have only known this to really be feasible when someone is turning down the TC for another well paid job.</p><p></p><p>I have also known firms write off the debt though. Some firms just can’t be bothered with the hassle of it and ultimately think £20k is a drop in the ocean and will just sign it off and you don’t repay anything. Firms obviously don’t really like doing this and you might find you need to sign some form of NDA about it as they don’t really want other people to find out this is what they have done at a risk of other people doing the same.</p><p></p><p>Some firms decide on a variety of the above options based on your individual circumstances. Given your health and the fact you aren’t leaving for another job, they way want some form of medical reference and they could then write the debt off. They might not though - really depends on the firm and who you are dealing with.</p><p></p><p>If it was me, I’d work out what my financial options are if the worst comes to the worst and I’d have to pay back the amount fairly immediately and in full. I would also work out realistically how much I could pay back each month too, just in case that did come up in the conversation.</p><p></p><p>But ultimately you need to speak to the firm in question to find out what they expect in this situation. They will just want you to be prepared for conversations around how/when you expect to pay it back, so to me that is the first thing you need to do, and fairly quickly. You should also let the firm know ASAP.</p></blockquote><p></p>
[QUOTE="Jessica Booker, post: 87393, member: 2672"] I have worked at firms where you paid it off in monthly instalments. I had someone do this after doing the GDL and LPC and they had over £30k worth of repayments, which were spread over 7 years (basically £350 a month). I have known other firms where you will need to repay it fairly immediately though and have known people having to take loans out to repay them - that is tricky if you aren’t in employment though, and I have only known this to really be feasible when someone is turning down the TC for another well paid job. I have also known firms write off the debt though. Some firms just can’t be bothered with the hassle of it and ultimately think £20k is a drop in the ocean and will just sign it off and you don’t repay anything. Firms obviously don’t really like doing this and you might find you need to sign some form of NDA about it as they don’t really want other people to find out this is what they have done at a risk of other people doing the same. Some firms decide on a variety of the above options based on your individual circumstances. Given your health and the fact you aren’t leaving for another job, they way want some form of medical reference and they could then write the debt off. They might not though - really depends on the firm and who you are dealing with. If it was me, I’d work out what my financial options are if the worst comes to the worst and I’d have to pay back the amount fairly immediately and in full. I would also work out realistically how much I could pay back each month too, just in case that did come up in the conversation. But ultimately you need to speak to the firm in question to find out what they expect in this situation. They will just want you to be prepared for conversations around how/when you expect to pay it back, so to me that is the first thing you need to do, and fairly quickly. You should also let the firm know ASAP. [/QUOTE]
Insert quotes…
Verification
Our company is called, "The Corporate ___ Academy". What is the missing word here?
Post reply
Forums
Aspiring Lawyers - Applications & General Advice
General Discussion
Help please! Withdrawing TC offer after LPC
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…