San Francisco, CA (Law Firm Newswire) October 18, 2012 – ConsumerBankruptcyCounseling.info, a successful provider of free credit counseling services in English now offers its services in the Spanish language, fully supported by email and a telephone helpline.Recent years have seen growth in the U.S. population and as of the 2010 census recognition of the significant place now held by people with Hispanic roots: 50.5 million strong, over 16% of this nation of 308.7 million.
Since the onslaught of the recession in the fall of 2008, consumers have confronted difficult choices as: household incomes have fallen sharply; residential real estate values have plummeted while adjustable rate mortgage payments spiked upward; uninsured Americans struggle under huge debt burdens if their health failed; and new university graduates have been unable to find jobs in keeping with the degrees they earned. As a consequence, these borrowers are unable to make the required payments on their student loans so the parents and grandparents who co-signed loan applications are being pursued to make the payments that they expected would be paid by their unemployed or underemployed graduates. While generally not dischargeable in bankruptcy, these student loan debts can be the final straw before consumers find themselves overwhelmed and ready to consider a bankruptcy.
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The reasons underlying a decision to seek bankruptcy protection are not surprising: unanticipated expenses; over reliance on credit; reduction of income; job loss; insurmountable medical debt. To characterize the cause as “excess use of credit cards” overlooks the reality that ordinary people are using these cards to pay their doctors, dentists, hospitals, student loan creditors, auto repairs and gas bills. Until and unless the U.S. economy strengthens sufficiently to provide jobs offering livable wages, medical care becomes truly affordable, and a solution is found to the student loan crisis, consumer debtors will continue to struggle and eventually find their way to the courts for relief.
Millions among us are facing the prospect of bankruptcy and as consumer debtors they each must complete pre-filing credit counseling and obtain a certificate of completion often at a cost that is steep in the context of their financial distress. CBC was founded to provide that counseling free as well as to issue certificates of completion for the lowest sustainable cost, currently $5 per certificate. Based on experience with an increasing volume of clients whose first language is Spanish it became a key goal to offer our high quality low cost program entirely in that language as well as in English. Today we have achieved that goal: ConsejeriadeBancarrota.com provides full service in Spanish.
ConsumerBankruptcyCounseling.info is an all-online, easy-to-use, free credit counseling service that provides issuance of the completion certificate required in order to file a bankruptcy case. The website operates as a project of Tides Center, a 501(c)(3) non-profit. CBC is supported by fees paid for certificate issue and by charitable contributions from sponsors.