Money Worries
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I was doing just fine till I got an IM from my father. I am not sure if I had mentioned this or not, but my father has been trying to start a business for about 6 years now, and lets just say it has not been much of a success. Till date it has not generated a single penny in positive cash flow let alone profit. Needless to say he has been running the family and business on borrowed money, both his and mine. A month or so ago, he wanted to borrow $7000 from me for some short term business expense. He promised to return it within 2-3 weeks. I borrowed on whatever was left of my credit cards, and gave it to him. Today he tells me that he has spent all of it, and cannot return it. Normally I would not worry, but this was the last of my credit line. I am close to $30,000 in debt with my credit cards, and have another $21,000 in other loans. All of this money has gone to my dad, not to mention another nearly $40,000 from my internship income.
I know he is trying his best to get out of the rut, but I am worried that his best might not be enough. How do I tell him to quit trying? Even if I do, what should I tell him to do instead? I am so afraid of the future now. I am not sure what we are going to do for the next month’s expenses.
