What Steps Should You Take After Getting Laid Off?

One of the most painful things that can happen to a person is getting laid off, and At Home Title Loans is here to help you get through the situation. If you’ve lost your job and need help knowing what to do next, you've found the right article.

Read this guide to learn five steps you can take after getting laid off. You’ll discover steps to manage your personal well-being, including the financial steps to take as part of your unemployed money management plan. And when you need emergency cash, At Home Title Loans has your back with up to $15,000 using your car title.

Let’s get started!

What Are Five Steps To Take After Getting Laid Off?

Losing your job is a traumatic experience that can turn your life upside down overnight.

If this is your first time going through this process, remember one thing: you can survive this situation and come out the other end, just like countless people have before you.

The most important thing you need now is a few helpful steps to get you back on your feet.

Here are five steps to take as soon as possible right after getting laid off:

1. Understand Your Entitlements

The first few days after getting laid off can be confusing and chaotic. Before making any important decisions, you must first understand what you’re entitled to.

More specifically, you must take time to understand the terms and conditions of your termination. For example, gather as much information as you can about any severance pay and benefits you should receive.

As you do that, find out what you are entitled to regarding any unused time off. You might be able to get compensated for that before you leave.

Your employer’s Human Resources department is a useful source for that information, but consider getting fair and balanced legal advice from a qualified person outside of the company.

2. Take Some Time Off

Getting laid off is a horrible experience for anyone who experiences it. That’s especially true if this is your first time, and it came completely unexpected.

Taking time off to clear your head and process what’s happened is important. Your doubts, concerns, and anxieties might be at their highest. Take the time to calm yourself as much as possible so you can make decisions with a clear head.

3. Start Your Job Search

Take a few small steps to begin your job search. You don’t necessarily have to go rushing out to interviews just yet, though that will happen sooner or later.

Instead, start small by updating your resume or CV. Be sure to do the same for your online profiles on LinkedIn and other job sites, which can help you identify nearby or remote job opportunities.

One thing that’ll help your job search: let people know you’re in the market for a new job. Someone in your network might help connect you to your next role. Sometimes, who you know and the connections you have is half the battle.

4. Review Your Finances

As you continue processing your situation and beginning your job search, you must consider another crucial aspect: finances.

The job search is typically long and grueling for most people, so you can expect to be without work for an extended period. In the meantime, you need to figure out two things:

• How much money do you need to survive
• How long you can survive with the money you currently have

Ideally, you should cut back temporarily and live on the bare minimum. For instance, you’ll need money to pay your utility bills, service your debts, and, of course, put food on the table.

Once you know how much you’ll need to do that, you can determine how long your savings will last.

5. Secure Emergency Money

Suppose you reviewed your finances and found you don’t have enough to cover urgent costs. In that case, it’s time to explore options to secure emergency money.

One helpful option is to get a title loan if you own a car. Depending on the value of your vehicle, this could give you as much as $15,000 in emergency cash.

Here’s what you’ll need to qualify:

• Minimum age: You must be at least 18 years old.
• Car title: You must have a lien-free car title registered in your name, free from any outstanding loans or judgments.
• Identification: You must have a valid driver’s license or at least another state-issued ID.
• Vehicle inspection: You must have access to your vehicle to bring it in for a quick inspection.

Once you have these items ready, you can begin the process of getting a title loan from a licensed loan vendor to cover your urgent costs after a job loss.

Take The First Step Now!

Getting laid off can be hard on anyone, so remember you’re not alone. Follow the personal and financial steps described above to help manage your well-being, begin your new job search, and survive this temporary phase as best you can.

A crucial part of unemployed money management is knowing where to turn when you need help. Get in touch with At Home Title Loans for help finding a reputable lender offering title loans in your area. You can do so by submitting the secure inquiry form online and a loan specialist will call you back soon!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.