I lost my job in January. I never really saved outside of a two month rainy day fund. I’ve used most of my savings to pay bills until I can land a new job at my old salary…still waiting. I’ve fallen behind on the mortgage, utilities, car, loans, etc.
I’ve fallen into a deep depression and often think about suicide to ease my pain.
No question just wanted to see what advice you’ve given others in my situation.
Some say depression give you clarity and removes the artificial veil of optimism many people have at any give time in their life. In fact this is one of the points that Dan Airely, a famous behavioral economist, and I talked about in my interview with him..
The feelings you are cycling through are natural and normal when it comes to dealing with difficult debt problems. I felt the exact same way at times when I was living through these issues.
But even though those feelings are natural, that does not mean you should act on them.
In the debt world we have a very technical expression when people face such issues, we say “It Sucks.” Okay, so it’s not all that technical.
The reason you are feeling overwhelmingly low over this is probably because you feel like a failure and you can’t see any way forward. You are not a failure and there is a way forward, you can can’t see it and embrace it at the moment.
The reality is you are in the same predicament as millions as others and the clearest way forward to to stop paying any bill that is not a necessity. Once you fall behind the creditors will start calling and you might even be sued but in the grand scheme of things it’s not a huge deal.
Once you get employed again you can file bankruptcy and clean the debt so you can start over.
Read the following two past article and let me know if any of this resonates with you. Post your updates in the comments section below.
And on the issue of suicide, here is a little light reading from articles I’ve written before.