Job loss

October 13th, 2011 by Questions

My husband lost his job- He received severance pay equivalent to 2 months of his salary. He will not get EI until after 2 months and 2 weeks-waiting period.
Can we file for proposal now or wait until he start getting EI? we don’t know how match he will be getting in EI.
Also please tell us if we file now how payments will be based on? present situation or after knowing $ amount from EI?
I know it’s a tricky question , but you guys have been answering some of them and hopefully you can help us here too.

Thank you

Posted from: Ontario

Questions

One Response to “Job loss”



October 13, 2011 at 9:45 pm, A licensed trustee said:

We are actually asked this sort of question all the time – the advice you’ll get from any repuatble trustee will be to wait until your situation stabilizes. You can file a consumer proposal at any time, but it will be based on your current situation and knowledge. It is VERY risky to enter into any long term repayment plan unless you have a high degree of certainty what your finances will look like for the next year or so.

Havign said that, it wshould be easy enoguh for someone to calculate how much EI your spouse will receive. I still suggest you take you take your time to allow things to stablizie before you make any decisions.

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