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Would You Go $50,000 In Debt on Purpose?? - UPDATE IN THE OP - Page 6

post #101 of 120
Maybe it is a sign... an opportunity... a kick in the pants to do something else .
post #102 of 120
Quote:
Originally Posted by alexsam View Post
Maybe it is a sign... an opportunity... a kick in the pants to do something else .
:
post #103 of 120
No advice but I couldn't read without giving a
post #104 of 120
I'm sorry to hear that, but I hope another job opportunity comes along and that you're able to avoid as much debt as possible. Best of luck!
post #105 of 120
Can you get unemployment benefits? In my state (North Carolina) you can receive unemployment benefits after being fired unless the employer can prove you were let go for significant cause. My DH ( an attorney) has represented people in this area, being "fired" does not disqualify you from benefits. Basically the employer has to come to a hearing and have documentation to prove you were not just bad at your job, but something like "maliciously negligent". I don't know what state you're in but you should definitely at least apply at your unemployment office and see what happens.
post #106 of 120
Yep, unemployment. Here in MI, you can collect unemployment as long as you didn't do anything illegal to get fired (steal, fight, do drugs, etc). Mabe this is actually a good thing!
post #107 of 120
Quote:
UPDATE: I got fired this afternoon. Not a complete shock really. I don't think I can fake being content when I am clearly not. My boss was the type where if you did 99 things right and 1 wrong, the 1 is what you would hear about. Not once did was I given any positive thanks or recognition from boss. It still sucks though, and I am pretty upset.

So we may not have a choice now and may *have* to go in debt. I had already (just barely) started job hunting and I will probably have to take a pay cut but that way we may only have to go $20,000 in debt instead of $50,000. I don't know what we'll do yet since I'm not thinking very clearly.
I view things like this as signs.
post #108 of 120
I read your other post and i tink this could be just the break you are looking for. You can get some unemployment. and still be home with your kid. You will also save on daycare (sorry if you have free daycare thats not such a benefit but if you are paying for it yeehaw! daycare for me would be more than my mortgage payment). You may still have to go in debt some but maybe only half as much as you were thinking. ok so $30K. people spend that much on their car. our first child cost us that much just to be born. I never ever encourage debt but in t his instance it seems like the best plan.

if unemployment doesn't pan out perhaps a lower paying part time job with hours that let you be home with your son. I stock groceries overnight. i know, its lame but I get paid almosy $10 an hour and can get almost full time working 4 nights a week, could get full benefots if I wanted them (for sure if I went to 5 nights a week) and they offer a pretty decent package for part timers. and I am home with my kids all day. The pay is not great by most standards but we have lived off less and I don't have to pay for daycare (which as I mentioned would cost us a truck load) although a mothers helper for while I am sleping would not be a bad plan.

good luck to you.
post #109 of 120
Thread Starter 
Quote:
Originally Posted by Phantaja View Post
Yep, unemployment. Here in MI, you can collect unemployment as long as you didn't do anything illegal to get fired (steal, fight, do drugs, etc). Mabe this is actually a good thing!


I am in MI, too. Do you know more about how much this works? I googled but the "legalize" and overwhelming amount of information is hurting my fragile overly-sensitive brain.
post #110 of 120
Oh, this sucks. I know it may turn out for the best, but getting fired never feels good, no matter how much you hated your job.
post #111 of 120
Sorry you lost your job, but it sounds like it wasn't good for you anyway. Where are you at in MI? You can pm me if you don't want to post it here. Dh works in retail and I know that their store is already interviewing for holiday help. He's just a worker bee, but if you're in my area I could tell you the name of his store and you could check into it. Good luck finding something that lets you be home with your kids while still bringing in some $.
post #112 of 120
We have done it- for that reason, too.
post #113 of 120
Hopefully you can get some unemployment while you seach for a different plan that makes you happier.
post #114 of 120
Quote:
Originally Posted by 2 in August View Post
Sorry you lost your job, but it sounds like it wasn't good for you anyway. Where are you at in MI? You can pm me if you don't want to post it here. Dh works in retail and I know that their store is already interviewing for holiday help.

Yes, tis the season for holiday help hiring. Some places like Costco hire permanently from their pool of holiday workers.
post #115 of 120
Quote:
Originally Posted by karina5 View Post
I am in MI, too. Do you know more about how much this works? I googled but the "legalize" and overwhelming amount of information is hurting my fragile overly-sensitive brain.
Just go to the unemployment office and apply today, or you may be able to apply online.
post #116 of 120
I wouldn't go into that much debt if at all avoidable. It could take a long time to pay back - and you might really regret that later.

I would go into as much as you have to right now obviously and hopefully if you could find a better job the stress and mommy guilt won't be as bad - doing something you aren't miserable at really will make a difference I think. Good luck.
post #117 of 120
Just saw the update - apply for unemployment ASAP. Ask for severance if the official reason was "position eliminated" or something like that. Make arrangements for cobra or other health insurance (for example though the school)

Now is a good time to look for seasonal work (for example at a mall)

Best wishes.
post #118 of 120
Wow, you need both and some , it seems.

At least you can file for unemployment, if need be. And your decision was somewhat decided for you. Hope your day gets better and that you find a good job you truly enjoy!
post #119 of 120
Quote:
Originally Posted by Crazy Basil View Post
I have a bit more the $50k in student loan debt. There is not 1 single day that goes by that I don't wish with every fiber in my being that that debt wasn't there. It causes much more stress than anything else in my life.
This is my feeling, too. It's a lot of stress. With needing only $25K a year to live on, I'm guessing you have little, if any, debt right now. That's a lot to take on. If it were for school, that would be one thing, but it's not for your husband to go to school. I know you just lost your job, but there are other options - flex scheduling, pt daycare, working out of your house. I know these are very individual decisions, but I couldn't relax being at home with the kids everyday if I knew we were going into that much debt for me to do it.

I also warn from personal experience about the "we know he'll get a good job" assumption. I hate to see people make huge financial decisions based on those kinds of things. If he doesn't finish/can't get a job/loses life or limb, can you get a job that will allow you to cover the cost of those loans? If he dies, they're discharged, but otherwise you're stuck with them. Hubby and I met in college and knew by our junior year that we'd be together for life. We made some stupid, stupid financial decisions - part of which was living off student loans - assuming hubby would get a great job. The tech sector bottomed out right before we graduated, and I took on more loans for graduate school while hubby worked at a low-paying job until the market picked back up. It stressed us and almost ruined us financially. We're 3 years out from that and just now feeling like we see daylight, so please, please be careful about making these decisions based on assumptions for the future.
post #120 of 120
me too, im thinking you can get unemployment unless she says you were doing drugs or something..so try to be happy, definitely apply anyway.

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