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Well earned IT employee to an unemployed addiction survivor with heavy debt.

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  • Well earned IT employee to an unemployed addiction survivor with heavy debt.

    Hello,
    I would like to tell you my story in brief. I was an IT employee, earned pretty well. I graduated 5 years back and started working in IT industry soon after. Everything was going really well, when a person who I have mutual friends with, introduced me to to the world of drugs. I didn't know that was my introduction to disaster. Everything happened very quickly and the addiction made me overuse all 3 credit cards I had. I had a car loan and my educational loan, both of which were being paid without any defaults, all where defaulted for several months during my addiction time.
    About 7 months back, I got fired from my company for being unproductive and indisciplined. Losing a good job caused a lot of problems, especially because I am not prepared for it. I didn't have a lot of savings and none of my friends was able to help me as well as I would have liked. But they took me to a de-addiction centre. After months of treatment, I somehow escaped that evil, but became an unemployed man staring at a lot of debt. I may get a job sooner or later, but debts are dragging my life back.
    I am trying to find if is it possible for me to consolidate these debts so that I can pay lesser? I don’t know if debt consolidation is applicable (link removed) to a person without a job. What should I do in this situation? It’ll be extremely helpful if someone could help me deal with these problems and get out of my debts.

  • #2
    SAms001,

    Welcome to our heroin addiction and recovery discussion forum and message board. I appreciate you sharing your story, which happens to be one I could relate to to some degree. I too have been working in the IT profession for a long time, which includes website publishing. Regrettably, when my world was opened up to drugs, my work ethic went downhill and all I became concerned about was acquiring and using drugs. I would spend just about every day chasing and using drugs, sitting in my car or my house getting high without any care in the world - meanwhile, just about everything I ever loved was being ripped out from under me. And the sad thing is, I didn't even care. I mean, I cared, but not enough to stop using drugs, at least not for awhile. I'm thankful that I didn't lose my primary job however, I did have to turn my entire work ethic around which thankfully, recovery gave that back to me. In addition, I started this community so I could give back and help others who struggle and suffer from drug addiction.

    But like you, I had accumulated a lot of debt, especially credit card debt. I went from an almost perfect 800 plus credit to barely getting approved for a loan. I was taking cash advances out left and right on my existing credit cards, accumulating tens of thousands of dollars of debt. So like you, I got in touch with a debt consolidation company and yes, I did finally eliminate my debt. But even with the best intentions and a lot of knowledge about how these things worked, I wasn't overly happy with how the debt consolidation company handled the situation. They had failed to disclose certain information to me and it put more money into their pocket than I was originally told and anticipated. Thankfully, I was able to pay the loan off early so that I wasn't charged a plethora of interest. But nonetheless, even if I did have to go through the program from start to finish, it would have at least got me out of debt.

    Now, to answer your question about whether or not debt consolidation is for you if you are not employed. I honestly don't know. That said, what I do know is that debt consolidation companies want your bank account info so they can begin taking a certain amount of money out of your account every month. You probably don't need to have a job as long as you have an account with the money they need to take. However, unless you have a significant savings account with a lot of money in it, even if you have an account with some money in it to get started, you will need a job in order to keep up with your monthly payments/deductions.

    In my opinion, look into all your options, make some calls and see what can be done in your situation. I notice that you hot-linked "debt consolidation" to a third party website which spammers typically do to try to get a free SEO link back from our popular community to theirs. Your story sounds sincere, but I did remove the third party link as we have no way to verify whether or not that particular company offers legitimate services or not.

    If there's anything else we can help you with, please let us know and we will be happy to do our best.

    Peace and Love,

    William
    Publisher of Kill the Heroin Epidemic Nationwide™, Heroin News and the National Alliance of Addiction Treatment Centers.

    Find a Prescreened Addiction Treatment Center & Drug Rehab Facility

    Visit our Heroin Addiction & Recovery Blog for daily articles.

    I do my best to educate myself regarding addiction and recovery related issue, treatment options, etc. however, I am not a medical professional. All opinions are my own and any advice you take from me is at your own risk and discretion

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