Anonymous wrote:I am privileged enough that I can take a TSP loan. Unemployment, at least in DC for GS11+ Feds, is $444 a week and requires a lot of paperwork. A 50k TSP loan costs $50, maybe some interest, and some lost earnings and requires essentially no paperwork. For me, the TSP loan is the better deal because I hate paperwork.

This is my Plan B once my savings are drained. I have a mid-sized inheritance coming shortly, so I would survive off that if necessary. The unemployment process is intentionally a pain in the neck and not worth the hassle. The meager funds you get won't prevent the bottom from falling out if it's falling out. It's enough for gas, groceries, and a cell phone bill.

Anonymous wrote:Np, and I don't have plans to file. We would still have to be closed in March or April for me to consider filing. I don't want the hassle of paying it back. Also, I thought I heard that excepted employees are ineligible?

The OP has stated they are not a fed, so very different situation. Excepted feds are not eligible in DC and MD (don't know about VA, but probably not there also).

Np, and I don't have plans to file. We would still have to be closed in March or April for me to consider filing. I don't want the hassle of paying it back. Also, I thought I heard that excepted employees are ineligible?

This is so interesting to me. I’d definitely apply—to me it’s money on the table that I’d be leaving.

Even if it’s a lot of paperwork, surely it doesn’t take more than an hour or two a week? Or am I wrong about that?

The amount of paperwork is not worth the $200 a week you may get finally. You can make $200 a day working any low wage job in DC.

Anonymous wrote:OP - not a fed. this not related to govt shutdown.

I am PP fed that would rather take the TSP loan than unemployment. If you are not a fed, unemployment is money in your pocket. All you have to do is fill out the paperwork and apply for two jobs a week. I would happily send my resume to a post on a job board for for $200.

Unless you have to pay it back as a fed then apply. If you are a Fed the TSP loan is a trap if you can't repay it.

Since not a fed, here is how I would approach:

Were you fired for clear cause? If so, don’t apply. If there is a question about whether there was cause, apply and the employer can dispute it and you can explain your side.

If laid off, apply while also applying for jobs. Give yourself a day or the rest of the week to feel sorry for yourself, then go get ‘em! It isn’t as bad as they say out there IMO. I got a new job recently.

Anonymous wrote:OP - not a fed. this not related to govt shutdown.

Then you should definitely apply. No real downside.

OP - not a fed. this not related to govt shutdown.

Anonymous wrote:

Anonymous wrote:Of course you file for unemployment if you are eligible.

so like 'how is this even a question' kind of deal?

DP but absolutely not. Why would you if you were a fed, unless absolutely desperate for money this instant? You will get back pay and the process is annoying. Also paying it back won’t be as easy as you think if you are truly paycheck to paycheck. I would spend the time reworking my budget to have more cushion, calling to get bills cheaper, etc. so I was in a better long-term position week to week. If you need the money right now, you need a complete overhaul on your spending STAT! You can spend the time since you aren’t working. Great!

Anonymous wrote:Of course you file for unemployment if you are eligible.

so like 'how is this even a question' kind of deal?

I am privileged enough that I can take a TSP loan. Unemployment, at least in DC for GS11+ Feds, is $444 a week and requires a lot of paperwork. A 50k TSP loan costs $50, maybe some interest, and some lost earnings and requires essentially no paperwork. For me, the TSP loan is the better deal because I hate paperwork.

Of course you file for unemployment if you are eligible.

curious how such decision come about. struggling right now whether to do it or not. never ever imagined that one day i'd be eligible for it, so a lot to process (plus i got plenty of free time to think about it haha).