13/08/2026
๐ Retrenched? You May Have More Financial Options Than You Think
Losing your job affects far more than your bank balanceโit impacts your confidence, family life, and peace of mind. While you can't control everything, acting quickly can prevent financial problems from spiraling out of control.
Here is a step-by-step checklist to protect your financial well-being after job loss:
1๏ธโฃ Check Your Credit Life Insurance
Before missing any credit repayments, check if your agreements include credit life insurance. Qualifying policies can cover your installments for up to 12 months or until you find work again.
(Note: If you are under debt review, you can still claim qualifying credit life coverโcontact your insurer or debt counsellor right away!)
2๏ธโฃ Speak to Your Debt Counsellor Immediately
If you are under debt review, notify your debt counsellor as soon as your status changes. Do not wait for payments to fail. We can help you identify active policies, guide you through claims, and help protect your debt review plan.
3๏ธโฃ Apply for UIF
Apply via UIF Online as soon as you become unemployed to ensure your claim is processed without unnecessary delay.
4๏ธโฃ Shift to an Emergency Budget
Your old budget was built on your old income. Prioritise non-negotiables: housing, food, electricity, transport, and medical expenses. Pause unnecessary subscriptions and avoid high-interest debt.
5๏ธโฃ Lean on Your Network & Routine
Keep a daily structure. Update your CV, contact former colleagues, and consider temporary or alternative work. Many opportunities arise through personal connections!
๐ก Remember: Facing job loss is a bump in the road, not the end of it. Taking action early makes all the difference.
If you are struggling with debt or need professional advice on your rights and options:
๐ Contact Corne Myles Attorneys & Debt Counselors today for trusted legal and financial support.
๐ Call us: 012 253 1231
๐ฌ WhatsApp: 082 554 9182
๐ง Email: [email protected]