Debt-Free Forever by Gail Vaz-Oxlade (the beginning after the end read novel .TXT) 📕

hole in the meantime, you’ll be way sorry. So it doesn’t matter what you have to do to keep a roof over your head—that’s a better alternative to using a line of credit.

The same goes for using your credit cards to fill the gap in your cash flow. Don’t do it. In fact, you should take your credit and debit cards out of your wallet and hide ‘em, freeze ‘em, bury ‘em so that you don’t have the wherewithal to buy things on impulse. There is no time when you’ll be more tempted to spend money on crap than when you’re feeling deprived. And don’t go to a payday loan company. With costs ranging from 300% to 900% annually when you include the setup fees, interest, services fees, and loan repayment fees, this is a hole you’ll never climb out of. Don’t go there.

STEP 6: TALK TO YOUR CREDITORS

Don’t ignore your bills. Contact your creditors and explain your problem. Offer to make regular smaller payments that you can afford for a short period of time. Ask for an interest rate concession. Get those credit payments in line with your new income.

Take a trip to your bank and see whether a consolidation loan will help ease your cash flow. Do whatever you can to reduce your costs and ease the pinch. This is no time to let pride get in the way of common sense.

STEP 7: EMBRACE CHANGE

In all likelihood if your industry is in retreat you’re not going to find a similar job for similar money easily. Two part-time jobs may be as good as one full-time. Contract work may be a good option for rebalancing your life. Business opportunities may present themselves, and you’ll have to have your eyes open to take advantage of them. Don’t be closed to a relocation, if that’s what it takes to get you back on track.

If you hated your last job, then this is the time to start thinking about a career change. Can you use the time you’re not working to upgrade your skills or take some night courses to retrain for something new? Would this be a good time to turn that hobby into a business? I am not recommending you remortgage your house and buy a business because you’re desperate. What I’m suggesting is that if there is something you’ve always wanted to do—be it landscaping, web design, freelance writing, or small-engine repair—now may be just the time to start making some money doing what you love. If you can turn it into a viable full-time business, good for you. If it brings in extra money while things are tight, that’s good too. And if you find a full-time job and can keep doing your biz on the side, hey, that’s a great way to pay for the extras.

STEP 8: TAKE CARE OF YOURSELF

Don’t climb on the couch and hide. Don’t dig into a big tub of cookie-dough ice cream. Don’t stop exercising, socializing, empathizing. If you find yourself becoming really sad about your situation, find someone to talk to about it. Don’t let yourself go into a nosedive. Keep to a schedule and keep your focus. Volunteer so that you can keep meeting new people, widening your network, and putting more people into the job hunt on your behalf. Take a course to update your skills or learn new ones.

STEP 9: KEEP YOUR SENSE OF HUMOUR

When things get tough, our funny bone is the first to go. Don’t let it. You can do so much when you’re smiling. Your interviewers will see you differently. Your family will be reassured. Your friends won’t run and hide when you call. Hang on to that funny bone!

There’s no longer such a thing as a job for life. Gone are the days when you retired from the first company that hired you. This won’t be your last job change. Consider this good practice for the next one! Make sure you keep getting better at it.

WHAT TO DO IF YOUR DEBT GOES TO COLLECTIONS

If you’re behind in your payments, no doubt you’ve been getting a few calls from collection agencies. I’ve received letters from people who have completely stopped answering their phones because they can’t stand the calls. Hey, if there are people to whom you owe money, your “creditors” have a right to try to collect that money. Even so, there are definite rules that collection agencies must follow. If you know what collectors can and can’t do, you’re in a better position to deal with them.

The legislation governing collection agencies is regional, so the rules are slightly different from one region to the next. Check what’s what in your area, but here are some general guidelines.

1.Don’t let a collections company harass you. Collection agencies aren’t allowed to start bugging you until they’ve notified you in writing that they’ve been assigned to the account. I’ve received more than a few complaints from people who say that some agents won’t say who the creditor is or how much is owed. They aren’t allowed to do this. And if you claim not to owe the money, they can’t demand payment from you unless they have proof that you do owe the money.

Collection agencies are also constrained by law as to when they can call. And they are never allowed to “abuse” you, so don’t take any crap. What constitutes harassment? Depending on your region, agents can’t contact you by any means including phone, voicemail, or email more than three times in any seven-day period on behalf of the same creditor. They’re not allowed to call on a statutory holiday, on a Sunday before 1 p.m. or after 5 p.m., or on any day before 7 a.m. or after 9 p.m. And they may not contact your friends, relatives, neighbours, or employer for any information other than your address or telephone number.

If you feel like you’re being harassed, keep a record of the time, date, and frequency of the calls you’re