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Question
Posted by: Matheuw | 2011/01/09

I lost my job, what to do if I have debt?

Dear Michael

I''ve recently lost my job and will have no work at the end of this month. I am really worried because I have debts that I have to pay, e.g., a personal loan, a clothing account, study loan, a credit card etc.

I am lucky enough not having to pay for housing (I now live with my parents) but I am not married and have no other means of support.

What can I do regarding my debt? I can only start paying again when I find a job again.

If you have any advice, I really appreciate it because at this moment, everything seems bleak and hopeless.

Kind regards

M

Some extra info if it could help:

I am not married, I have no property or a car on my name, I don''t have any savings and also no pension or retrenchment money.

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Our expert says:
Expert ImageLabour lawyer

re: I lost my job, what to do if I have debt/

You need to contact all your Creditors advising them that you have lost your position. More often than not they understand, and will put it on hold until you find another position.

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Our users say:
Posted by: labour lawyer | 2011/01/13

re: I lost my job, what to do if I have debt/

You need to contact all your Creditors advising them that you have lost your position. More often than not they understand, and will put it on hold until you find another position.

Reply to labour lawyer

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