I work in the construction industry as a contractor and in 2008/2009 my average annual income went from $60,000-$80,000 to $24,000-$32,000.
During this tough adjustment I managed to hold onto my house and car but lost my health insurance in order to keep my kids insured, my retirement savings and racked up $90,000 in college loans putting two kids through college as a single parent.
Until this year I managed to juggle and keep my head above water. Three months ago I had an emergency appendectomy without complications. For one night in the hospital and one hour in the operating room my bills total around $41,000; more than I made in the entire year.
Apparently I don’t qualify for any assistence programs in my state but honestly I don’t know how to find even an extra $100 per month for these new bills. I don’t expect the construction industry to recover anytime soon.
In ordinary times I could possibly have refinanced my house but real estate values have plumetted around here and no banks are lending. Even if they were, after three years of uneven payments I doubt if I could qualify.