We all know that real estate foreclosure rates doubled in California during 2008, and I fully expect them to double again during 2009
(PRWEB) February 01, 2009
Los Angeles, CA (PRWEB) February 1, 2009 -- Turning Point Debt Settlement, also known as The Debt Relief Place, is one of several prominent Los Angeles area firms catering to the growing consumer debt settlement market, today announced that consumer applications for its debt reduction services have more than doubled in volume since the previous financial quarter.
Company CEO John Betancourt, himself a twelve-year veteran of the now ailing real estate industry, sees this as indicative of a still worsening local economy and a prelude to yet more economic angst in the months to come. "We all know that real estate foreclosure rates doubled in California during 2008, and I fully expect them to double again during 2009" says Betancourt. "But seeing the faces behind the numbers, as I do each day, translates raw data of a housing bust into a sobering human reality."
Betancourt's firm has recently had to double the number of its own service staff to meet the surge in demand. "We've added to our office personnel, and will likely do so again and again as this situation continues to play out. I'm guessing we're still nowhere near the bottom of the subprime mortgage mess and its effects on overall consumer debt."
As a specialized debt settlement company, the firm focuses on re-negotiating debts on behalf of financially stressed consumers, so as to allow mutually agreed retirement of outstanding debts and thereby avoid further interest penalties from creditors. The company is located in the Wilshire district of downtown Los Angeles and services all of southern California.
For further information on Turning Point Debt Settlement please contact John Betancourt at (213) 382-4600 or visit http://www.debtreliefplace.com.