New Employee Sharing Program Helps Fight Bankruptcy…

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Want to keep your job & help save your state government money?

Well a program with these benefits is the Employee Sharing Program in New York.

Currently saving 11,000 jobs in 2,300 businesses – The Employee Sharing Program is a major accomplishment from the recovery act.  It’s a method which allows businesses to cut working hours but providing employees with full wages.

Instead of someone collecting full unemployment; a company retains employees, cuts shifts & allows the government to pay the difference in the regular salary.

Instead of simply laying off workers, now the businesses work hand-in-hand with the government to provide an opportunity to  save jobs & avoid more individual financial issues.  The collaboration between businesses & government is great to see.

The only unfortunate piece of the equation is that the program isn’t nation wide as of now.  In many states workers have been laid off for years and the rate of bankruptcy still remains high.

At iLostMyJob.com we’ve established relationships on behalf of involuntarily unemployed individuals.  Instead of leaving workers out to dry, we’ve created a way for job seekers to find help if their worried about a bankrucy.

But first we have to help people understand what it means, so…

What is Bankruptcy?

There are two types of consumer bankruptcy.  Each is intended to help consumers in financial crisis, but the solutions offered are very different.

Chapter 7 bankruptcy, or liquidation, is more common. A Chapter 7 bankruptcy can eliminate a lot of unsecured debt (credit cards, medical bills, old utility bills, unsecured personal loans, etc.), and can generally be completed within just a few months.  In a Chapter 7 bankruptcy case, the trustee can liquidate (sell) non-exempt assets to pay creditors, but most people who file for Chapter 7 bankruptcy don’t have any non-exempt assets, and so are able to keep their property while eliminating unsecured debts.

Interested in reading more & being connected with help resources for this tough time? CLICK TO READ BELOW:

Bankruptcy & Unemployment

Do you know the first step to take?

Interview tips for job seekers

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4 Comments

  1. Excellent blokg you ave here but I was wanting to know if you knew of any forums that
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    I ccan get comments from othesr knowledgeable individuals that
    share the same interest. If you have anyy suggestions, please let me know.
    Bless you!

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