I am in the same boat mate. Spent many £1000s to get to CPL/IR/MCC and not a chance of flying job.
Now schools are telling me get FIC course, in other words "give us more money".
Flight instructors as I am sure everyone on this forum knows by now are on low incomes, and if weather conditions/economy are bad than no income at all.
Keep your PPL alive and fly couple of hours a year for enjoyment. Don't go into debts, i know this is extreme but had a mate who was ex-military pilot, spent all his money on license conversion, failed test and depression/debts made him take his life away.
As i said, this is extreme but can happen.
There are jobs in other industries where they will be happy to have you onboard, give you respect and pay you more money for less effort without having to have valid class 1 medical.
Once over 30, you are more likely to fail medicals, ageism is a big topic in airline industry too.
The best thing would be to get a flying horse.
