Unemployed IT Stories – House Gone, 100 Grand in Debt Chickenfeed Job

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Unemployed IT Stories
Unemployed IT Stories

Unemployed IT Stories

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We received Unemployed IT Stories in response to our ‘Being Unemployed During the Downturn’ article.

My Story

It was good to read the other Unemployed IT stories as I think it’s good for us to know we aren’t alone.

My husband and I were both consultants, most recently in the launch of interactive TV.

I (stupidly) took a permanent role and of course once I’d launched the product and bedded in the team and all processes were running smoothly I was made redundant, just 6 weeks before that magic 2 year mark.

We lost our house and have had to rent. We managed to hold on to enough money to pay one year’s rent up front and now I am about to start a job that pays almost per month what I was “commanding” in consultancy fees per dat previously.

It just doesn’t feel real. Even the dog’s depressed (we had a big garden before).

Don‘t Quit on Each Other, Partners

If I asked you to put one thing in the article it would be this: STICK TOGETHER.

I was sad to hear of partners leaving when the chips are down. My husband and I cling together when times are bad – without each other’s support I don’t think either of us could face sitting here each day looking through job sites and sending off CV‘s in the 100’s.

Well, that‘s us, dead in the water – nearly £100,000 in debt and a bleak future. So come on, IT agencies, DON’T advertise jobs that don’t exist. You are playing with lives and careers.

Took Permanent Job

I have taken a £19k permanent job now (very junior role) and start next week. After expenses it will leave me with £100 per month towards my £95k debts. So I am talking to Payplan.

This is good advice. DONT pay a debt management company. The first one I spoke to just kept saying “go bankrupt”, no other advice. Apart from ruining your life, it costs to go bankrupt.

IT Contractor Comment

I hope you haven‘t got interest payments to pay on your debts. I calculate that it will take you 79 years to pay back your debts at the current rate. How long do you intend to live?

Haven‘t you looked at an Individual Voluntary Arrangement where you gather your creditors together and offer them a certain amount, e.g. 10p to 15p in the pound to clear your debts?

You could clear your debts for 10-15 grand – or have you gone too far for that? Have you any money left?

That‘s the problem. Contractors often wait too long before they try and get out of their problems. They wait till they have no money left.

They should keep in touch with their accountants all the way down the line.

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