Losing your job can feel like the floor’s been pulled out from under you—but there are steps you can take right away to steady your finances and protect your future. In this episode of the Get Out of Debt Guy Show, Steve Rhode (the original Get Out of Debt Guy) and Damon Day (the new Get Out of Debt Guy) break down what to do first when you’re laid off, terminated, or facing a sudden loss of income.

We also tackle a listener’s question: If your loan is sold to a collection agency, does that mean you don’t owe the debt anymore? Damon shares a wild personal story about fighting Citibank in court, and Steve explains why documentation and planning matter more than online myths.

From managing credit cards and unemployment benefits, to side hustles like DoorDash and Instacart, this conversation is packed with real-world strategies to avoid common mistakes when income stops.

💡 Want help with your unique situation? Damon can be reached directly at DamonDay.com.
📚 More resources and guides at GetOutOfDebt.org.