NTTCR:Help possible layoff

mvp12 · August 2009

It looks like my company is going to be doing layoffs. I know i will be let go. I have a very high paying salary position. We are in debt up to are elbows because of being OOP for IF and my husband opening a business.

Help!!

1. Were are the list of companies that cover IF

2. Has anyone had success or know anyone that was able to re-work their mortage because of job loss.

We have no nest egg, and a very high mortage. Flame all you want, but We never anticipated this and used are emergency funds for treatment.

I think I'm going to lose it. I'm doing my 3 IUI cycle next week regardless, but because of all the stress I know it won't work.

jeannaqueena · August 2009

Oh honey I hate hearing this!!! I wouldn't flame you for using the nest egg, what is the money worth if you are unhappy. I hope you don't get laid off and hopefully can figure something out. Do you think you could sell the house? just a suggestion...GL to you!

HeLovesMeAndILoveHim · August 2009

I'm so sorry to hear this. I have no advise for you, but there is still the chance that you won't be one of the ones to get laid off.

Just remember that as soon as one door closes, another opens. Try to stay positive and don't stress.

mvp12 · August 2009

jeannaqueena:
Oh honey I hate hearing this!!! I wouldn't flame you for using the nest egg, what is the money worth if you are unhappy. I hope you don't get laid off and hopefully can figure something out. Do you think you could sell the house? just a suggestion...GL to you!

Unfortunately selling the house will be impossible. We have 10 up in my development and it won't appraise because we had 2 foreclosures. I'm 95% sure I will be let go.

HeLovesMeAndILoveHim · August 2009

I know its easier said than done, but hold onto the 5% chance that you won't get let go. If there is a will, there is a way.

shipoopiisforme · August 2009

i would start working on a refinance asap while you still have your job. i would also suggest meeting with a financial counselor as well. they may have some good ideas on how to restructure your debt as well as how to live on a decreased income.

lovemymonkey · August 2009

Start updating your resume and getting it out ASAP! Do you think you might get a compensation package? You should also sign up for unemployment as soon as you are let go, so at least you will have some money coming in.

I'm sorry I can't remember who had the list of companies with IF coverage. What field of work are you in?

mvp12 · August 2009

Pharmaceutical Rep. There will be a compensation package. There are no jobs left in my field

We don't have any credit cards thank god, but I have a company car and would lose that, but DH's salary can't carry us until 2 more years once it increases. i was planning on working part time then.

mvp12 · August 2009

I know it's really bad, but I think we could use our 401k. I'm just so confused. I knew this could happen in my industry, but it is hard because I'm dealing with IF. We made poor financial decisions, but we would have been set in a couple years. We took a risk and it wasn't a good move.

Temp590840000005378 · August 2009

Ugh, this is my biggest fear. We have had a lot of layoff's in my company in fact I had a dream last night with this exact scenario. My dh is self employed as well. If I get laid off I'm going to take a major pay cut and go apply at the discover card customer service center, they have fertility coverage so I hear. Good luck and start lookign around for other jobs now if you are 95% sure it will happen. So sorry, being OOP sucks!!

lovemymonkey · August 2009

I was excited when I saw you were a pharm rep b/c I work for a medical device company and we're always hiring sales reps. I checked our website and the only sales rep position open right now remotely in your area is the Philadelphia sales territory. :-(

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NTTCR:Help possible layoff

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