Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
aprilxbegins

2 Contributions
5 People Helped
Hey guys, I recently lost my job. Any advice?
For the past 8 years, I have been trying really hard to build my credit up. I have a charge off from a mistake I made when I first got a credit card 10 years ago. With that, my Transunion score is still almost 700. My question is, I just recently lost my job. I had a decent amount of income and it was easier to manage my debt with it. I am actively seeking full time employment, but as you know, bills creep up super fast. How can I keep everything in good standing if I do not really have any income coming in? Is there anything specific I could ask creditors?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
7363 Contributions
3809 People Helped
Most Helpful Response

Communication works!!

Helpful to 3 out of 4 people

Sorry about the job loss.  Hope you'll be able to get unemployment while seeking a new job.  Now it's time to figure out financial strategy.

First, find out how much money you're going to have.  Now, figure out the bills, with priority going to covering housing and utilities. Basic survival needs must be covered first, then you can decide how much you might be able to pay to any credit accounts you have.  Once you know how much you might be able to pay them (even if it's only $5) send your creditors a letter telling them what happened, that you are actively seeking new employment, that you have $XX coming in for unemployment and, after all necessary survival expenses are taken care of you have $xx you can send them.  If you don't have any money to send them, let them know the situation and ask for their help.  Some might just freeze the account, some might make suggestions that can help and some might just be jerks.  But, keeping them informed will work out best so they won't think you a deadbeat.

Hope this is a shosrt unemployment.

Reply by
aprilxbegins

2 Contributions
5 People Helped

Thank you jwsister. :) You gave really great advice.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.