Has anyone here quit their job to convert to a 7?

[espo1357]

I am in a situation where my job is just terrible, and my home is under about 40 percent, and living in a city that sucks.

I am considering quitting, so I can convert to a 7 and get on with my life.

But, I don't have the nuts to do it.

Any thoughts?

[Flamingo]

Couple things...if you quit your job you have no guarantee you will be able to get another so you could be shooting yourself in the foot. Secondly, losing a job and quitting a job are two different things. Before you do anything further, speak with your chapter 13 attorney.

[espo1357]

Couple things...if you quit your job you have no guarantee you will be able to get another so you could be shooting yourself in the foot. Secondly, losing a job and quitting a job are two different things. Before you do anything further, speak with your chapter 13 attorney.

The difference is that when you quit, you get no UI.

I am just ready to move on from this city, and this job. There are better opportunities in other cities, and this home is not worth crap.

Just exploring options.

Thanks for your response.

[Pandora]

how about finding another job and securing that one FIRST - before you quit - be it in another city, state, etc. You can convert later....

[Flamingo]

The difference is that when you quit, you get no UI.

I am just ready to move on from this city, and this job. There are better opportunities in other cities, and this home is not worth crap.

Just exploring options.

Thanks for your response.

Well aware of that but that is not what I meant. A lot depends how far you are into your Chapter 13, whether or not you will be able to get another job if you quit; you may also have some explaining to do if the trustee requests a letter from your employer to verify you lost or quit your job, etc. Quitting a job during a Chapter 13 without another one lined up does not look really good so you could be lining yourself up for more than you bargained for - that is why I suggested you speak to your attorney before you make any decisions...

[researchnerd]

Don't forget that we are still in a recession which has the potential to double-dip. If you quit your job and can't find another one, what will you live on? You don't want to trade a crappy job for homelessness.

[catleg]

Have you heard the new term for the unemployed, ninety-niner?

In any other environment I would say go for it, but not right now.

Jersey really sucks, my property taxes just went up 25% thanks to town-wide revaluation.

[catleg]

Well aware of that but that is not what I meant. A lot depends how far you are into your Chapter 13, whether or not you will be able to get another job if you quit; you may also have some explaining to do if the trustee requests a letter from your employer to verify you lost or quit your job, etc. Quitting a job during a Chapter 13 without another one lined up does not look really good so you could be lining yourself up for more than you bargained for - that is why I suggested you speak to your attorney before you make any decisions...

Boy this sounds an awful lot like indentured servitude. I'd love to know if a trustee would even try that. I can't imagine it.

[espo1357]

Have you heard the new term for the unemployed, ninety-niner?

In any other environment I would say go for it, but not right now.

Jersey really sucks, my property taxes just went up 25% thanks to town-wide revaluation.

[Flamingo]

Boy this sounds an awful lot like indentured servitude. I'd love to know if a trustee would even try that. I can't imagine it.

I had to supply a letter from a former employer that I was no longer with them and their company went out of business and I also had to supply a letter from my new employer that I was employed with them and what I was making. A trustee can ask for anything they want at anytime during a plan to evaluate your stated financial position.

[espo1357]

I had to supply a letter from a former employer that I was no longer with them and their company went out of business and I also had to supply a letter from my new employer that I was employed with them and what I was making. A trustee can ask for anything they want at anytime during a plan to evaluate your stated financial position.

there goes my thought of borrowing off my 401k.

The next four years are going to be tough, but well disciplined.

Self-control has many good points.

[researchnerd]

99 weeks of UI, right?

In Jersey, UI is pretty dam strong (600+week). In my state, its about 400.

This is just part of growing up in life. Went from 100k plus job, to 60k. And its the same ing job!

lol.

At least I am learning how to pinch every fnn penny, so when the 100k job opens up again, I will be rolling!

Yep, my DH is a 99er and now he's just SOL. UI here in GA is $300/week, which is a massive drop from his previous $100k+ salary. It wasn't much, but it helped, and we were thankful for it while it lasted.