Labrador West dealt another blow as IOC announces 150 layoffs
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The Iron Ore Company of Canada (IOC) announced today that they will be laying off 150 workers in Lab West, effective June 14.
This is a devastating blow to a community already reeling from significant employment losses.
Many people are likely to wonder what they can do about their debt loads now as they know a loss of work is around the corner, speaking with a licensed trustee in bankruptcy can help you understand your options
Did You Know?
1
Many people who file for bankruptcy get to stay in their home.
2
In Newfoundland and Labrador, you can keep your RRSPs – even if you file for bankruptcy.
3
Many people who file for bankruptcy are able to keep their vehicle.
4
Most bankruptcies are NOT published in the newspaper.
5
Student loans can be included in a bankruptcy if they are more than seven (7) years old.
6
A consumer proposal is an alternative to bankruptcy that can only be filed with a licensed trustee in bankruptcy.
7
In NL, people ages 30 to 39 years old file for bankruptcy more than any other age group. [source]