r/debtfree • u/Crazy-curls530 • 21h ago
Advice after employment loss
Hello, looking for best advice. I just recently was let go from an admin position due to Medicaid cuts. I had just gotten a raise but unfortunately the company couldn’t keep many of us due to the cuts. They had to salvage the company.. sucks really bad.
I have a lot of debts. From my younger years and not being cautious but also the revolving door of jobs that didn’t pay enough to having to use my cards for many expenses. Anyway I’ve wracked up about 20k in credits cards + personal loan I took out when I went back to school for my masters the year of Covid. I’ve been playing catch up ever since and it’s been difficult.
Finding a job has also proven to be difficult.. I’ve never not been offered a job in my life and this is proving to be an extremely humbling experience.
I called one credit card and was put on their hardship program for 48 months which is perfect, lower APR, lower monthly payment. I called Chase and they are not offering me their hardship program and I think it’s because my monthly payment just went out.. they literally put me in the negatives on my checking (my fault for not cancelling or calling sooner) and they gave me a # for a debt consolidation company instead.
What’s the best route to take at this point until I get back on my feet? We only have 1 source of income but my husband currently has his own debts/bills. We split everything 50/50 and now there’s really nothing I can do until I find something.
Should I look into debt consolidation? Should I just keep pursuing for hardship programs? To note: I did file unemployment but it’s only $275/week. Just enough to keep me afloat here in Florida.
1
u/doctorwize 22m ago
Honestly, if humility has been acquired then work a job, any job, until you get back on your feet. Put your residential zipcode in indeed.com and apply. There is a thing to be said about arriving comfortably at a new position of preference but given this economy it is best to get in where you fit in (or don't get in at all).
Your chances of being hired go way up if you are working and apply for the position you want compared to when you are unemployed and interviewing from that status, all things considered.
2
u/East_University_8460 10h ago
I can't really help with the finance part, but possibly the career aspect. Have you considered Social Security disability determination specialist? Sounds like you would qualify, and they're always hiring here. Pay is okay, and supervisor pays well. Bro-in-law does it, likes it.
Good luck tho.