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 »  Articles  »  News  »  Unemployment Tips
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Unemployment Tips
By Credit Federal | Published 03/10/2009
Are you about to be fired?

What to do after getting a Pink Slip:

There are more unemployed people now than in 25 years. Getting a Pink Slip can only add to the problems of already being in debt. It is one thing to shuffle debt while having a job, but it is more serious when the job is eliminated. Here are some tips if you get a Pink Slip:
  • Call your mortgage company, bill companies you owe, and all credit card companies you owe as soon as you lose your job. Tell them your circumstances and work out a plan to lower payments or have the payments suspended for a time. Many credit card companies will work with you and may have programs in place to help. Creditors you owe may be more willing than you think to work with you.
  • Make sure you have a plan in place for food, shelter, and utilities. Talk to family or credit counselors, you may even have to consider bankruptcy options as a last resort. If there are kids in college, consider amending the FAFSA to possibly get more student aid.
  • Call family and friends to let them know you are seeking a job, visit the unemployment office, apply for food stamps. It is important to keep in touch with everyone you know, it could land a job opportunity. Take inventory of your talents – you may possess a talent that could earn money for you.
  • Don't expect things to work out by itself and don't take a let us 'wait and see' approach, you must take an active position early and make things happen.
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