Being laid off in a stable economy can be stressful, and it can be even more unsettling in times of global crisis. Fortunately, although you may need cash loans to get you through this period, you can endure this experience and come out of it financially stable. It is important to remain calm, evaluate your finances, and keep in mind a few of the following tips for how to make the best out of this complicated situation. 

4 Steps to Take After Being Laid Off 

1. Collect Your Last Payments 

After being informed of your layoff, pick up your final paycheck from your employer as soon as possible. Although they’re not legally required to provide severance pay for layoffs, ask whether it’s available. You may also use up your vacation and sick days, or ask for a payout, to help you stay financially afloat a little longer. 

Also, inquire about your pension or 401(K) plan. Depending on the way it’s set up, you may be eligible to receive a certain amount of money upon leaving the company. Either way, check how you can transfer the value to a different plan once you have a new job lined up. 

2. Check Available Benefits 

Your state should have an unemployment benefits program in place for layoffs, so contact your local unemployment office before figuring out what cash loans you might need to supplement. Since you may lose your health insurance, apply for government-sponsored health insurance as well. If you have questions or would like help navigating the process, contact the Department of Labor at the federal or state level for assistance. 

3. Get Temporary Financial Aid 

Even with government benefits, it may be difficult to pay all your bills until you’ve found a new job. Go to a payday loan provider to see if you’ll qualify for a cash loan. Typically, a short-term loan is all you need in a situation like this. It will be easier to pay back once you’re financially stable again. 

4. Start Job Searching 

You should update your resume and job website profiles and alert your professional references that they might be contacted by your potential employers in the near future. Begin applying for jobs for which you’re qualified. If possible, ask your former employer for a letter of recommendation that you can include with your resume. You can also reach out to field-specific contacts for advice and professional introductions. Consider printing out business cards as well so that you’re prepared for any opportunity that might come up. 

To apply for a cash loan that will help you through this challenging period, contact Advance U Cash in Florence, KY. With just a valid identification and documentation verifying your income and the last 30 days of your account history, you can start the process of receiving a cash advance quickly. If it’s your first time, they even offer their loans with flexible due dates and zero interest. They’re also available if you have poor credit or a history with bankruptcy. For details, call them today at (859) 746-2274 or message them online.