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Things to do after you lose your job

Job loss can come as a shock to you, especially in the case of wrongful termination. If you find yourself in this situation, you need to decide where you are going to go from here. In the case of wrongful termination, you might opt to take legal action against the employer, but this is only one component of your plan.

One of the first things that you can do is to start the job search right away. You need to clean up your resume and get it ready to give to places where you plan to seek employment. At first, you might have to find something to make ends meet until you can get the job you really want. This might be a part-time job or an opportunity in another field. Keep your options open so you can pay the bills in the interim.

On the money front, you should make sure that you get your final check from your employer. You also need to consider filing for unemployment. Even if you don't think you will be able to obtain those payments, you might want to still apply just to find out what happens.

You also need to let creditors know you've lost your job. Some accounts, such as credit card accounts, might have protection that will take care of the bills or put them on hold while you are looking for a new job. In all cases, you will need to make sure that you follow a budget that enables you to avoid acquiring new debt while you are unemployed.

Source: FindLaw, "Ten Ways to Handle Losing a Job," accessed Nov. 03, 2017

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