If I have financial commitments that I must fulfil, e.g., mortgage payments, loans, etc., what happens to them during the strike/lockout?

Answer

You will still be responsible for paying your bills, but you can often negotiate a hold on payment in the short term in the event of a strike.

Tips for budgeting during a strike or lockout:

  • Mortgages/rent: Talk to your bank, credit union, or landlord and negotiate a plan for the duration before the next payment is due.

  • Taxes: Ask if an accommodation can be arranged to defer property taxes.

  • Utilities: Make a request to spread your payments.

  • Loans: If your lender won’t allow a deferral, consider refinancing to reduce the payments.

  • Credit cards: Charging purchases while on strike is not recommended. Pay the minimum charge or use a line of credit with a lower interest rate.

  • Insurance: Investigate ways to spread out the premiums.

  • Child support: Contact your ex-spouse and try to work something out.