I spoke with a friend in England yesterday, who has just lost his job. There must be a lot of people in his position just now, so how does it all work? There are young kids, a wife with a little part time job, some credit card debt, the mortgage to pay, a car loan, and all the other bits and pieces. He only had a very small pay-off as he's only been there a short time, and very little savings.
So what happens in a situation like this, as within a month or two he's going to be defaulting on everything, and not have a pot to pee in.
Obviously he's frantically looking for a new job, but they don't grow on trees, and he can get a little help from parents etc, but realistically it's all a drop in the ocean.
When he absolutely and completely runs out of money, and there's nothing available to pay the leccy and buy food, is he out on the streets?
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