The After Affects Of Redundancy

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As times have been hard for everyone I wasn’t surprised when my boss called me into his office and told me he was making me redundant. The meeting was a blur and I felt a mixture of feelings sadness, anger, sickness but manly I was panic stricken, how was I going to be able to afford my mortgage and all my outgoing bills. Unless I could find another job fast I was going to lose everything I had worked hard for.

That evening I got my CV out to as many companies and recruitment agencies that I could in the hope that I would get at least a job interview, after six months of looking I finally found a job but the time in between had been a struggle and for the first time in my life I was in facing financial ruin. I was at risk of losing everything my main concern was my mortgage. My credit score was very bad due to missed payments.

I heard about a secured bad credit loan through a friend and he told me that I should qualify for this type of loan because I now have a job and have a house that I could use as collateral so I spoke to numerous companies and looked at my option and to my surprise I found a company that offered a good interest rate and was willing to help me pay the debts off that I had accumulated over the months that I was unemployed.

It is always a worry taking out a loan at this uncertain time, but I had no other option I have now been in my new job for three years and have almost paid back my loan, I wouldn’t recommend getting a loan for anything other than necessity, however the secured bad credit loan worked for me.

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