Beginning June 1, I will lose the salary that has kept me solvent for several years now. My employment (since 2003) has been on a salary plus commission basis. In the beginning, the commission part of that equation was the greater part. In the last few years, the commissionable work has declined, and I have been living on the salary. My employer has decided that my services aren’t sufficiently lucrative, and has informed me that the salary part of our agreement is canceled as of the end of this month. The only good news is that, so far, he hasn’t withdrawn my health insurance.
This will result in a severe financial hardship on my part. It’s very likely that I will default on a significant percentage of my consumer debt. I’m seriously considering bankruptcy. I have a few low balance credit cards and a car note. Those could be handled in consumer bankruptcy. The more significant issue is the utilities (gas, water, electricity, internet, and telco). Electricity, telco, and internet access are required for my continued employment, as I telecommute.
I’ve been looking into other employment possibilities, but unfortunately, the last ten years spent in a backwater of the IT industry have left me skills challenged. I simply don’t have any marketable skills, and can’t acquire them in a short enough period of time to make a difference. Add to that the fact that I am in transition, and you can see my dilemma.
I live with my daughter, and she and her husband are scrambling to make up the anticipated loss of income, and/or reduce the outgo. I’m hopeful, but also, quite honestly, terrified. Once again life asks me: “What now?”