That is wise advice, Spacey. Not always practical if someone is already overextended but if there are other options to ease the pressure until things even out with the current situation as they are or to give a little more breathing room to not make unpleasant commitments to less than desirable employers that tends to work out better.
I equate my gear to those proverbial pennies. In many ways I look at my gear as an emergency fund. Sure I may take a bath on some stuff but if it means becoming homeless or having to hock something... well it's a lot less expensive to replace a guitar, amp or computer than it is to have to go through the insanity of setting up in a new place. Besides if I don't have a home where the heck am I gonna keep my junk? Before that I'll look into personal loans from people who have vested interested in keeping me afloat and know I will do everything I can to square things up (good credit with friends/family is far more valuable than corporate credit... at least for small short term amounts).
Sometimes/many times all a desperate situation needs is time to sort out. A small influx of cash can provide that time. I'm not sure if this would apply to bit's situation (and I know it's a hot topic issue so the suggestion is not meant to bring up politics... at all) but perhaps with the new healthcare stuff that's going on there is a solution to ease some of the medical bill burden on the horizon. Frankly I don't know how you guys do it. If I had to pay for all the medical crap I've been though the past few years... well my financial life would be over. $600 per month just to be kind of covered... as a healthy person? Cripes! That's almost what I pay in rent and have peanuts left over as it is.
Anyway... I'd scan through anything I have of value that isn't absolutely imperative to survival and sell the frack out of it. Any time I've done that I've always managed to keep afloat and found I didn't really need that stuff anyway and found much better things to replace it which then ends up going back into the "penny" fund for future raiding.
The only times I've been TRULY screwed is when all the gear was gone, the rent was due and the wolves were at the door. But somehow, someway someone always came along and gave me some work or other opportunity to keep me going.
The universe... it's funny that way... which is why I will never fully discount the possibility of a higher power. Just wish he'd stop by sometime so we could have a beer and chat about this mad thing we call existence.
;-)