I have worked at this job for about one year now. They have lowered my already low starting wage twice. Not just for me, but for everyone in our group.

I thought that a year ago, this would be a temporary job, as I had been unemployed for seven months, and just needed to start making money again. Well, after countless job applications, several on-site and phone interviews with various local companies, I have not gotten one job offer. I am stuck here, and my salary is down to $16.20 an hour. In 2003 I was making over $70k. Everyone knows that one’s income validates their worth in our society – probably more so for men. And I am the breadwinner in our family. So I have every right to be depressed. How can I support a wife and child on what I make? And since my employer is an out-sourcing agency, it could lose the contract with HP for support, and I would be out of a job. Again.

So at least I have good credit to fall back on, right? I am wondering how far that can be strung out. I have just maxed almost every last credit card and also the second mortgage line-of-credit. I just keep moving money around. The Chase card teaser rate expired, so I paid it down after “clever” transfers from other cards. I used a transfer from my wife’s Macys card (usually used to get “points” from her clothing purchases),  and I got a new card from Advanta. Now I worry that with maxed-out credit, my credit score will go down, and I won’t have any more “teaser” rate offers coming in the mail to save me.

I need a new job – quick. I need a pay bump of at least $1000 a month. I cannot believe that our debts have hit $200k (that’s not including the first mortgage either). Even if we sold the house now, we are close to just break-even. We would still have to rent some place, which is almost as much as our mortgage anyway. And my wife might literally die if we left our home. She has attachment issues related to moving a zillion times when she was a kid.

I think we’re screwed. Too many debts, too little pay – it is getting me depressed.  I am thinking that bankruptcy is the only way out.

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