yeah, this was my actual experience as well.

 

<br /><br />I'm guessing in your case 401K not IRA. Correct? <br /><br />OP is no longer an employee so has restrictions on how/why he can now access his funds. <br /><br />In the case of IRA rules are clearer. That's my actual experience.

 

Too much actual experience in here.
We need more hypotheses

 

well i didnt lose my job like an ******* either.

 

^lol

+1 on purchasing an appliance vehicle for cash and preserving reserves. You have no idea how long this may last or how bad things may get prior to bouncing back. Please err on the side of caution, if at all.

 

That's what I'm suggesting he do. High mile civic, corolla, sentra etc. Cheap and reliable. Usually on these cars things that break are door handles, not transmissions/engines. I only mentioned a NB as if he knows them very well, he can DIY any repairs needed for cheap. I'd still look for a 4door instead.

 

Maybe if all the phaggots across this country would go back to driving brodozers and SUVs there wouldn't cheap gas available everywhere ruining the economy of the state I'm from.

 

Ugh, got my severance today.

For some reason even though I declined Cobra, it looks like the holdbacks they made assumed I would come out of pocket the next 3 months.........even though I signed a document saying I didn't want it and they gave me the cash for not taking it.

 

What about filing for unemployment? I know it sucks, and I would hate to be on unemployment, but when push comes to shove, you gotta do, what you gotta do.

You'll have some money to live on, so you wouldn't have to touch the 401K.

 

<p>You've talked about taking a loan out on a nice NB. How do you plan to qualify for a loan without currently having a job?</p>

 

Already done. I'm not embarrassed to take money I'm legally entitled to. The company has being paying unemployment insurance for 4 years on me. I'm taking my $2k a month (pre-tax). Unfortunately that's the max.

No I realized that right after I posted it.

But I think (have an interview next week with a very interested company), even once I do get another job, I'm going to take a step back, downsize and alter the lifestyle I had grown accustomed to the last 8+ years while living with someone.

 

Even now that I took a contract gig (at a discount, GD Tulsa economy) I think I'm still going to ditch the BRZ and buy a Miata cash, or with a big down payment.

I did lose benefits and about $11k/yr, but at least I'm earning a paycheck, hopefully waiting on a few other full-time gigs.

I know I want to travel more, and now that I don't have the wife that demands lux accommodations, that extra $550/month between payment/insurance would sure let me travel a lot more. Not just in America, but abroad (where I really want to go).

 

Glad you found a contract job for now! Let me know if I can help!

 

Thanks! You were already a big help with tuning up my resume.

I'm waiting to hear back on a few different full-time gigs at the moment. I just happened to interview with one of them before the guy who would be doing the hiring was traveling a bunch. So I'm hoping next week or the week after.

If that doesn't work out, the place I'm working for said they understand I'm looking for full-time and know I'll bail when I find it, but they have what looks like at least 12-18 months of work for me, if one of the others doesn't work out.


At that point, I'm going to really ramp up the search outside of OK.

 

<p>Props on finding that 12-18 month job. That will make your hunt outside of OK a lot easier/less stressful. Good luck on the job hunt.</p>

 

Does filing for unemployment affect your credit score or ability to get a loan in the future?

 

According to Experian, no:

https://www.experian.com/ask-experia...it-report.html

 

Thankfully Joe posted a link, but I had never heard of anything like that.

But I was only unemployed for 4 weeks and only eligible for 2 weeks of pay so.

 

For a home loan, a job gap of 30 days or more only requires a signed letter of explanation.

Job history goes back 2 years, so any gaps outside of that won't even be relevant on your application.

 

In regards to the original post, I think I'll keep it for the time being.

I figure in real life to buy out the negative equity, find a nice NB and address any potential issues.............I think I'd rather have that reserve cash on hand.