I lost my job and I don't even know if I will get unemployment, what do I tell creditors?

I lost my job just last week. I don't do the kind of work where jobs are easy to come by. I don't even know if I am going to get unemployment because I was the scapegoat for higher ups.
Everyone tells me to call my creditors and make payment options but I don't even know what kind of money I am going to have available? Do I just call them and tell them I will pay them when I can?

I hope you can find a job soon. You can plead your case w/unemployment & possibly get benefits, but it takes something like 6 weeks to get a first check which will be a fraction of what you probably were earning.

My best advice: cut every expense possible & once you do that, go over everything again & cut even deeper. Meanwhile, dig up a job! You may not get something in your field ASAP, so you may have to compromise. If you are young, you might consider an apprenticeship in one of the trades - the pay is not bad, the work is honest and certain jobs (home remodeling, painting, roofing, setting tile)can't be shipped overseas.

Get ready for dealing with Satan when you begin to deal with creditors. They can be savage. Check out Fair Debt Collection Practices (search it online & know your rights & what entitles you to sue). You may consider telling creditors that if they don't work with you, you will just have to file bankruptcy - but the bankruptcy laws have changed in recent years and are less favorable to individuals, so I'm not completely sure how that would fly.

In a drastic case, you may need to talk to a bankruptcy attorney. Usually they'll talk to you for free and then charge around $1,000 to file bankruptcy - but it costs nothing to get a minor education so you can bluff creditors.

You can send them all cease & desist letters if they begin harassing you by phone & force them to deal with you by regular snail mail. Basically, you just address a letter to any offending collecting agent & tell them to cease & desist any and all telephonic communication with you and advise them that you may be contacted by mail at...then give your address.

I went through this when there was a snafu with my student loans. It was horrendous! I ended up complaining to the attorney general's office and I think I made a really good case suppored by tons of evidence and I think they're going to "do something." I'm still waiting to hear. Anyway...

Hopefully, you are young & can work one or two jobs while you look for a job that really suits you. I hope this seeming setback actually turns into something great for you.

Remember, think outside the box - maybe now is the time to write that book or start your own business.

Don't be insulted, but everyone I know is desperately looking for lawn care companies, snow removal, leaf raking & handyman stuff.

Whatever you do, I hope it turns out better than your wildest dreams!

Good luck!

Get help from your local credit bureau (governement agency). They will help you to negotiate with your creditors as well as come up with a repayment plan for you. They have financial advisors and may even be able to work out an interest free repayment plan for u.

Call them and tell them that you've been laid off (sounds better than fired) and you are starting the unemployment and job search process. Ask them what options you have available at this time.

Don't go into any long "I was a scapegoat" story as they don't care.

Tell them you want to work with them because you want to pay your bills in a timely manner and could they help you work out what will be best for both of you.

You may get to defer payments. But the interest will still be racking up. You may get to pay a lower monthly payment.

Keep in contact with them and don't ignore or become hostile with them.

Yes, you don't do the work where jobs are easy to come by but you can do all sorts of things while still searching in your field. Welcome to Wal-Mart, want a buggy? Work flipping burgers. Work for a temporary placement company. Any money coming in is better than no money coming in and getting deeper and deeper into the debt whole.

Good luck.

I think if it was a legitimate layoff, you will probably get unemployement but nevertheless it will only cover enough to pay rent, lights and food. So what I suggest is to start looking for a job quickly and speak to your creditors and look for payment options. If you have american express forget it they will not work with you. If you Bank of America visa they will close your account and make you a 2 year arrangement with a small minimum payment with a lock interest rate. If you have a student loan you can ask for aforberance, they will stop collecting for about 2 years until you catch up.

Good Luck.

Call them and let them know that you are no longer employed and that you are looking for a job. Once you have secured a job, you will b in a better position to make payment options.

Too bad, i've been wondering that too.

apply for unemployment

Yes, let them know. They'll be much easier to work with if they hear the bad news from you than to find out from your lack of payment.

i think u should just call them and tell them that you'll pay them when u can.

Wait until you find out if you are getting unemployment. Then make your payment arrangements.

An useful article on Job loss. It could be very helpful for you. You could find it here How to Deal with a Job Loss - A Hidden Blessing in Disguise and the link of the article is http://jobfindcareer.com/Deal-with-a-Job-Loss-A-Hidden-Blessing-in-Disguise.htm
Best wishes. Cheers!
PS: Article source: http://www.jobfindcareer.com/

First of all, talk to an an attorney who specializes in employment law. Scapegoat? If you were doing your job as prescribed by your job description and not violating ANY company policies, then a good, reputable attorney, could help you.

If you feel like you are going to have a shortfall and not make your bills, talking to creditors before you get into trouble is usually the best way to go.

tell them to f*** off. You can't get blood from a stone. If you're broke, you're broke. What can they do?

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