Prep for Disaster

[Rikter8]

Ok.

Some of us have already been there, some of us are going thru it, and some like myself arent sure what way to go.
I know everyone is different, and there are MANY intelligent people here.
I'd like to get Honest Opinions here... Think about this for a bit before replying, as it may be a useful thread for all of us.

Lets say:
Your currently Employed
Good Credit
All bills in good standing
Own a home, and other Items
Have credit cards, with a medium credit load.
Young and capable of side jobs making some cash for gas and food.
Other places of residence open for you if a catastrophic event occurred.
In college, actively taking courses.

THEN:
You Loose your job, and there is no Financial cushion to ride you thru a month.
Unemployment pay is good for 6 months, and you qualify (Generally just enough to make your house payment and thats it).
Bills would include house, plastic, food, gas, auto insurance, utilities.
The market is saturated in your field of work, and pay benefits arent enough to make ends meat.
Your not through college, so you only have an associates degree, disqualifying you from many career opportunities.
Bankruptcy isn't an option (As the laws change Oct 17th).

What would you do?
Quickly liquidate your assets?
Ride it out for a few months?
Sell everything, move in with Family and go to School Full time?
Try to Keep the home and sell everything else?

What are your thoughts.
C

 

[SUMYUNGUY]

"Good Credit
All bills in good standing
Own a home, and other Items
Have credit cards, with a medium credit load.
Young and capable of side jobs making some cash for gas and food.
Other places of residence open for you if a catastrophic event occurred."

So, what's the problem?

Sounds to me like the person in this situation would be just fine.

Imagine, if you will, having no other place to go, poor credit, already behind on bills, no credit cards or companies willing to give you one. Oh, and a family.

Given the first set of circumstances? There are plenty of options available to get you through the second set of circumstances.

 

[Pecker]

Simple.

You go on the dole and move into the projects.

 

[Dr Rock]

I seem to do pretty well without any qualifications, occupations, benefits, or registered sources of income, thanks. it amuses me that there are people out there who have a hard time imagining living without such things.