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    #1

    Job Loss?

    I dont think I am in jeopardy but u never know.

    I am trying to look at all the angles.

    I am in a 5 year, not 100%, with lien strips.
    I have 2 years to go.

    At my age if I lost my job, I would not be able to make what I currently make, which is not that much anyway.

    If I got let go could I get a hardship discharge?
    Or would they give me time to gind a lessor paying job and do a mod on my payment?

    Just looking at worse case!
    Discharge date: October 2017 (will it ever get here?)
    Tags: None
    #2
    Hi DMC,
    I hope this for thought purposes only. I could be wrong but I would think you would be given some tune to find a new job and then converted to a Chapter 7 (if you don't find anything).Or maybe just converted right away. From what I've read, losing your job doesn't qualify you for a hardship withdrawal (especially with 2 years left on your plan). If it did, I'ld be begging, choose me, choose me.
    Filed Chapter 13 - 07/20/12
    Discharged 8/2/16

    Comment

      #3
      I don't know what age you are, but if you are like me when I lost my FT job at age 57; there aren't a lot of good jobs for us oldsters. I am 63 now. I applied every where I could, and got passed over for at least 6 good jobs without the courtesy of an interview. My advice is to start cultivating ways you might network with people that are hiring PT. If you find one you like, TAKE IT and work it with your current FT job.

      In my case, my PT job at our local College started in 2002. I kept working it through several other job changes, and they were/are very good to me. They throw extra hours my way when they can. But this is a relationship that developed over the years. 'Hub and I are drawing Social Security now, plus some Retirement moneys from a Trust. But it isn't enough. My PT job has made all the difference.

      Good Wishes!
      "To go bravely forward is to invite a miracle."

      "Worry is the darkroom where negatives are formed."

      Comment

        #4
        Angelina, I am right behind you! I am 55! I can't work extra now because the trustee will take it right? For now I am going to try to keep my nose to the grind stone! I can retire when this is over and move out of state where I can live a lot cheaper!!!! I just hope nothing happens to my job sooner! I am relatively safe, it's just a fear!
        Discharge date: October 2017 (will it ever get here?)

        Comment

          #5
          Sophieanne I am just thinking out loud again! :-). Xoxo
          Discharge date: October 2017 (will it ever get here?)

          Comment

            #6
            If DMC were under the median income would achieving 3 years of successful payments satisfy the case or at least have some benefit?

            By the way 55 is a long way from 63 in my opinion. The again 48 seems so far away from retiring too. ARGH!!!!!
            11/23/'10-filed ch 13. 1/6/'11-341, confirmed. Below median. Plan completed 11/30/2015. DISSCHARGED 4/4/2016.JP

            Comment

              #7
              Originally posted by spidge View Post
              By the way 55 is a long way from 63 in my opinion. The again 48 seems so far away from retiring too. ARGH!!!!!
              I was 57 when I lost my FT job. That is only two years away from 55.

              48 is not too soon to begin assessing your Retirement funds and how they are managed. Good wishes to you!
              Last edited by AngelinaCat; 10-21-2015, 01:11 PM. Reason: Corrected a punctuation error and added the last sentance.
              "To go bravely forward is to invite a miracle."

              "Worry is the darkroom where negatives are formed."

              Comment

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