Companies are freezing hiring and recruiting initiatives. Americans continue to lose their jobs at an alarming rate -- the unemployment rate has surpassed a 14-year high at 7.2 percent. While the U-6 unemployment rate may be as high as 13.5%.
Consumers are turning to debt relief programs for help. Debt relief companies can negotiate with creditors on the consumers' behalf to settle their debt for less than what they owe.
2.3 million American homeowners went into foreclosure in 2008, an 81 percent increase from 2007.