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As of now my semester has finally ended and I am about to go home but with a little less zeal than I had been hoping for. Everyone in the country knows that we are currently facing a pretty slippery situation in terms of the debt and credit markets. Finances all over the nation are falling apart and it's not looking to pleasant in the future for now. Being in college, most of us are extremely insulated to the nitty gritty of this thing that news stations are calling a crisis. For us it has just been a convenient excuse to learn something about economics. Unfortunately for me though it is something a little closer to home than I would have liked.

My parents called me last week to tell me that they are slimming down our christmas celebration this year because they had some pretty bad issues going on financially. This fall my father lost his job as a result of his company being forced to downsize during this recession. Because of the time lag between when he lost his job and when he found his new oe a couple of weeks ago they had to survive based on their savings ad then their credit. Unfortunately they used a little bit too much credit and now they can't pay. They are at the point where they won't be able to pay their bills for at least a couple of months if they want to keep paying their mortgage. So what they are going to be doing next week is making a plan for their debt negotiation. They want to show the credit card company that they are on their way out of their debt but that it will take longer than a couple of months to pay of what they own them specifically. They're going to have to hire someone to work out some form of debt reduction or hopefully even a debt settlement which would cut their bill to the company in half. It's pretty sad that this is what I have to think about before I go home for vacation but I know my parents and I know that they are strong people who ca pull themselves through something like this.