I recently found out that my dad is $125,000 in debt. Now hes struggling because he cant cant any more loans to pay the bills. The thing that frustrates me is that he allowed himself to get this far into debt, and was never willing to admit to himself that there is a problem. He's owned his own business for the last 15 years. It's finally come to an end, and he's not getting business anymore. So now he sits around the house, surfs the net for a few hours making himself think he's working by looking into opportunities. He also spends hours doing pointless crossword puzzles.

Now my mother is the only one bringing in an income. He blames everyone else when we are short on money. When he is the one that has become a bum. My mother is currently working 50 hour weeks to make up for his short coming. Yet it's still a never ending argument when she has no money.

It pisses me off because when the problem began, he was still spending money, and overextending himself. Had he admitted there was a problem earlier, then things may not be the way they are now.

So this means... College is going to be put off for some time, I cannot afford it on my own.

There is only one realistic option, move out and make it on my own. Get a job, and start from the ground up. My hopes and dreams have been shattered, as they seem like a distant fantasy now.

I don't know what I'm going to do. Everything has happened so suddenly.

With no idea where I am going to move... Every last penny of my savings spent towards helping pay for "bills" that I apparently am now responsible for when originally agreed to be paid for by my parents.

I didn't expect any of these things. Had I known, I would have refused to continue living the lifestyle that I do. Somehow I suddenly feel guilty.

And as for school, there are grants & such. And if not that, you could always turn to loans.

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Allow me to exaggerate, a memory or two

If that doesn't work out, then you may end up getting a student loan, but make sure you play it smart. It would be easier to get a student loan, since you would be making payments and wouldn't need all the money at once. Just make sure you don't use all your extra money on things you really don't need.

I think at the moment it is bit of shock to you, but you will figure things out, since this is something you really want. Don't give up and stay determined.

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many many more people are going to have the same problem here in America when 2009 gets here. We will be in another GREAT DEPRESSION when 2009 comes.

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lmao, seriously? we're not even in a recession yet

I think you should stay with your family because they need you now.  Maybe you can work full time and go to college at night.

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Dragonking: LW's Own Superhero! RIP MOM 5-30-07 :'(

Stay home. Thats by far the best thing you can do for your family. Take some courses at the local community college, and get a job. Not like a fast food job or anything, but a job that can help you and you may be able to advance. I'd strongly recommend taking the iron worker's exam, maybe even for both of you. In New York, an iron worker can make over $200,000 a year.

I'd suggest putting off college a few years, but strongly recommend taking courses at the community college, like I said before. You won't get out of the groove of school, and it may either lighten the work load or even eliminate a year of college.

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The lights always on here. ;)