What to do when CERB runs out?
As August draws to a close and we usher into September, for some, thoughts will be turning to the impending end to the CERB funding and to the transition to Employment Insurance (“EI”). Compounding this transition and corresponding reduction in monthly income, September also will mark the end for some individuals’ six-month deferral on mortgage, loan and credit card payments.
The question now becomes what do you do now?
If you have not done so already, now is the time to review your monthly budget focusing on ensuring that the minimum basics of living are being covered. For some, EI may cover some or all these expenses but there will not be sufficient funds to deal with recommencing payments on loans and credit cards.
If you need assistance in developing a plan that addresses these debts you should consult with a Licensed Insolvency Trustee for a free, no-obligation review of your current situation.
At JW Weber & Associates Inc., we would be pleased to review your budget and payment obligations and develop a plan for dealing with these debts, tailored to your individual situation. We operate from both a Calgary and an Edmonton office.