News (Noticias) for Your Money

K.B. Forbes, a leading national healthcare advocate and Executive Director of the Consejo de Latinos Unidos, a public charity that assists and educates Latinos and others, announced today the launch of a new, free nationwide assistance program in Spanish for Latinos with high hospital bills.
The key aspect of the program is to negotiate lower hospital bills for patients in debt and qualify them for any available discounts or charity care. The services are free. The program is fully funded and run by the Fairness Foundation, a public charity based in Indianapolis, Indiana.
“Many Latinos have no idea they are being price gouged by a hospital,” said Forbes. “Now there is a free program in Spanish to help negotiate reasonable balances and payment plans. The anxiety so many victims of hospital price gouging face is being replaced with real concern, real help, real discounts, and real solutions for these patients.”
According to the Fairness Foundation, patients who have utilized their free services have received significant discounts — in some cases 90 percent off the original balances. In one cited case, a hospital patient ended up paying $6,300 on a hospital bill that was originally over $66,000 due to the successful efforts of the Fairness Foundation.
Spanish speaking patients in debt with a hospital are encouraged to register on the Internet at www.ayudagratis.net or call 1-800-742-3441.
Last November, Forbes was named by Health Leaders magazine as one of the top 20 people making a difference in making healthcare better in the United States.
Forbes is the author of nine investigative reports, including six on hospital price gouging and aggressive collection practices. The investigative reports and efforts by Forbes and the Consejo provoked several U.S. congressional probes into hospital price gouging abuses by the U.S. House Energy and Commerce Committee and the U.S. Senate Finance Committee. “

Landmark study based on new “Middle Class Security Index” developed by Demos and Brandeis University finds that 3 out of 4 African-American and 4 out of 5 Latino middle-class families are on shaky financial ground

Full report PDF

As CNN explores many of the aspects of the African-American experience in its “Black in America” series, a new report shows that the vast majority of African-American and Latino families who have entered the middle class are either borderline or at high risk of falling out of the middle class altogether. The 2008 study by the policy center Demos and the Institute for Assets and Social Policy (IASP) at Brandeis University shows that one in four African-American and fewer than one in five Latino middle-class families in America are financially secure.

“Economic (In)Security: The Experience of the African American and Latino Middle Classes” is the first comprehensive report to measure the economic stability of households of color in the United States. Based on national government data, “Economic (In)Security” is the second in a series of reports and briefing papers that utilize the new Middle Class Security Index developed by the non-partisan policy center Demos and IASP/Brandeis. The first report, “By a Thread: The New Experience of America’s Middle Class,” was published in late November 2007 and presents findings on the middle class as a whole.

This Index measures the financial security of the middle class by rating household stability across five core economic factors: assets, educational achievement, housing costs, budget and healthcare. Based on how a family ranked in each of these factors, they were defined as financially “secure,” “borderline” or “at risk.”

“Financial health eludes the majority of African-American and Latino middle class,” said Thomas M. Shapiro, Director of the Institute on Assets and Social Policy at Brandies and one of the co-authors of the report. “Tremendous middle-class gains earned in schools, achieved on the job, and seen in paychecks are eroded by lack of assets, which seriously undermines the financial security of African-American and Latino middle class families.”

The Middle Class Security Index shows worrying trends in African-American and Latino households:

• African-American and Latino families have more difficulty moving into the middle class, and families that do enter the middle class are less secure and at higher risk than the middle class as a whole.
• Only 26 percent of African-American middle-class families have the combination of assets, education, sufficient income, and health insurance to ensure middle-class financial security. One in three (33 percent) are at high risk of falling out of the middle class.
• Fewer than one in five Latino families (18 percent) are securely in the middle class. More than twice as many Latino (41 percent) families are in danger of slipping out of the middle class.
• African-American middle-class families are less secure and at greater risk than the middle class as a whole on four of the five indicators of security and vulnerability. Latino middle-class families are less secure and at greater risk on all five indicators.

The report also shows that assets and housing costs are among the key destabilizing factors Latino and African-American families face:

• Only 2 percent of African-American and 8 percent of middle-class Latino families have enough net financial assets to meet three-quarters of their essential living expenses for nine months if their source of income disappeared.
• About 95 percent of African-American and 87 percent of Latino middle-class families do not have enough net assets to meet three-quarters of their essential living expenses for even three months if their source of income were to disappear.
• Only 26 percent of African-American and 37 percent of Latino middle-class families spend less than 20 percent of their after-tax income on housing — both are below the national average of 40 percent.

The “Economic (In)Security” report recommends a set of policies that will help open access to, and strengthen, America’s middle class. These policies cover a range of important issues affecting American households, including asset building and debt reduction, making higher education more accessible and affordable, and addressing the healthcare crisis.

“African-American and Latino families, even those who have made it into the middle class, still face very serious barriers to financial security,” said Jennifer Wheary, Senior Fellow at Demos and report co-author. “Strengthening the middle class was a theme early in the election cycle. While both candidates seem to have forgotten about the topic, building a strong and inclusive middle class is more important than ever. Given the forecasts for population growth, candidates who say they are trying to build a better future for America cannot continue to ignore the great disparities, especially in key areas such as assets and housing costs that make the African-American and Latino middle classes financially weaker and less stable than their white counterparts.”

The Middle Class Security Index will be updated biennially, with accompanying reports, as new national data become available. PDF versions of “Economic (In)Security” and the initial By a Thread reports are available for download at www.demos.org or iasp.brandeis.edu. To order a hard copy or to arrange an interview with one of the authors, please see contact information.
For more information:

Timothy Rusch, Demos, (212) 389-1407, trusch@demos.org “

The DVD set, titled “Nuestro Barrio” — Spanish for “our neighborhood” — contains 13 episodes that present financial information in a telenovela, or soap opera, format. The Spanish-language miniseries about Hispanic life in the United States aims to provide education and entertainment, or “infotainment,” on varying issues including banking and home ownership.”*

Suarez’s plight is shared by millions of Hispanics and blacks who have suffered critical setbacks in a shrinking economy, according to recent data from the National Foundation for Credit Counseling.

Debt-counseling services are scarce in low-income neighborhoods, and many financially strapped black families often don’t know where to turn for help, according to Emanuel Ridgeway, chief financial officer of the Urban League of Palm Beach County.”*

At a time when the economic downturn is hitting immigrant communities especially hard, food stamps are the first line of defense against hunger for low-income families. But advocates and government officials have long known that legal immigrants are missing out on government benefit programs because of language barriers or ignorance.”*

Since its launch in 1999, the New York International Latino Film Festival has always had plenty to offer on a global scale - especially with the filmmakers coming from different Hispanic backgrounds here and abroad.

Despite these differences, all share one common goal: the desire to change perceptions about Latino culture through the art of film. “*

I don’t believe we should be compensating employees more just because they can speak Spanish,” he said. “This is America, and I believe people ought to be able to speak the English language.”*

TODOS SANTOS, Mexico—Happening upon a cluster of palm trees in the middle of the Mexican desert is something of a novelty.

After driving for kilometer after barren kilometer across the dusty terrain of Baja California Sur, void of any signs of people or plant life (there are animals—cows and goats—who take their time crossing the road), Highway 19 suddenly rambles its way across the Tropic of Cancer and into a small town, where there are people, and there are a few desert-dwelling plants. And, refreshingly, there are palm trees. A whole grove of them, in fact.”*

Well, it’s true. Zihuatanejo, about 140 miles north of Acapulco on the west coast of Mexico, is a fascinating place. It is the neighbor of Ixtapa, a hot destination for those in search of the Cancún experience on the west coast. It is Acapulco many, many years ago, before the horrible bloodshed of narcotraffickers made that place too dangerous to consider returning to.

But Zihua, as it is called by the locals, is the not Hard Rock Cafes and big resort hotels or even Troncones, a beach to the north which has been taken over by gringo surfers. Zihua is where the workers live, and it has several lovely small hotels and a wonderful curving beach where vendors are gentle and smile when you say “No, gracias” to their trinkets held aloft – and then wander off leaving one to wonder how they make a living?”*

Republican John McCain and Democrat Barack Obama sought Tuesday to send the same message to a critical constituency: They understand that Hispanics share the same economic concerns as other Americans — and they will help the whole country prosper.”*

Once known mainly as cheaper alternatives to U.S. or European destination spas, Mexico’s spas now offer thoroughly unique experiences that combine sophisticated treatments from all over the world with indigenous rituals such as the temazcal sweat house and native materials like nopal cactus, volcanic ash, chocolate, vanilla and honey — all from Mexico’s tropical forests. Here are 10 of Mexico’s most outrageous spas. “*

Starting July 24, 2008, ultra low cost carrier Spirit Airlines is offering daily non-stop service from its Fort Lauderdale home to Bogota, Colombia. In addition to this new non-stop service from Fort Lauderdale, Spirit also offers convenient connections from its network of 16 other destinations in the United States to Bogota.

Spirit is celebrating this new service with $69 roundtrip introductory fares* available today and tomorrow at www.spiritair.com. In addition, $69 each way fares for travel on Mondays – Thursdays from September 4 – October 31, 2008, are also available today and tomorrow at www.spiritair.com.

The new route will be operated by Spirit’s new Airbus fleet, the youngest in the Americas.

The city of Bogota, with a population of seven million inhabitants, has become one of the most important capitals and business centers in the region. Its year-round spring-like climate and location at an altitude of 9,000 feet above sea level, provides a pleasant location for walking, and an excellent backdrop for restaurants, shopping, nightlife, coffee production and commercial centers. Bogota also has become a primary destination for congresses, fairs and conventions for the entire Latin America and Caribbean region.

“We are excited about liberating millions of Colombians in Bogota from high fares as we’ve already done in Cartagena and other cities in the region,” said Spirit Chief Marketing Officer Barry Biffle. “This new service will offer over 100 million people low fare access to Bogota through our Fort Lauderdale gateway.”

Referring to Spirit’s new flight to Bogota, Colombia, Oscar Rueda García, Vice Minister of Tourism of Colombia said: “Spirit’s arrival marks a new stage in the history of Colombia’s tourism, in which we are eagerly awaiting the best fares in order to promote tourism for the country. This new stage of flying, which began to Cartagena on May 8, 2008, met with great success and we hope that very soon will cover other tourist destinations throughout the country.”

$69 Introductory Fares*

Schedule for Spirit’s Fort Lauderdale-Bogota Service Effective July 24, 2008:

*Arrives and departs Bogota 1 hour later starting November 2, 2008.

Connections: Aguadilla, Atlanta, Atlantic City, Boston, Chicago, Detroit, Las Vegas, Los Angeles, Myrtle Beach, New York-La Guardia, Orlando, Ponce, San Juan, Tampa and Washington, DC.

About Spirit Airlines

Spirit Airlines, Inc. (www.spiritair.com) is the largest Ultra Low Cost Carrier (ULCC) in the United States, Latin America and Caribbean. Its all-Airbus fleet, the youngest in the Americas, flies more than 200 daily flights to 43 destinations. The company is based in Miramar, Florida, and employs 2,300 professionals.

Very often my conservatism is questioned by my liberal friends, and not for reasons of empirical or logical inaccuracies. They have an interest in my conservative philosophy as a Puerto-Rican and Dominican American born in a poor part of Brooklyn, New York. There’s no question that this eccentric collection of identities results in confusion with many of my peers.

I interpret this confusion as “Why doesn’t Chris just follow the Latino way of thinking?” In general, I agree with the notion of conformity, as it creates efficiency in life when working with other individuals. You don’t have to disagree on issues or get into needless debates that end nowhere. Thus, one can leave more time and energy for fun, fighting with people you actually don’t like, or contributing to some effort. This inherent cultural and social efficiency in collectivist identity essentially brings people together, building a more social and cooperative system.”*

The mountain of cash sent home by Mexicans in the United States is shrinking for the first time in over a decade, putting the dampers on Mexico’s economy as a U.S. slowdown takes work away from immigrants.

In rural towns like Tonatico, in central Mexico, where about half the men are in the United States, rodeos and country dances are being canceled and restaurants, which play U.S. hip hop music brought home by returning sons, are languishing. “*

Many types of fraud start with a phone call. Do you know who’s calling you? If not, you may be putting your hard-earned money at risk. Fraudulent telemarketing calls affect millions of people every year. On May 20th the Federal Trade Commission (FTC) announced the largest telemarketing fraud case sweep in their history, including 180 law enforcement actions by federal, state, and local agencies. The FTC itself filed federal district court complaints against 13 allegedly deceptive telemarketing operations. The FTC estimates the companies involved in these 13 cases defrauded more than 500,000 consumers, resulting in over $100 million in losses.

Hispanic consumers may more likely be victims of fraud. FTC’s fraud survey report, Consumer Fraud in the United States, showed Hispanics were more likely to have experienced fraud than non-Hispanic whites. Among Hispanics, the three most frequently reported frauds were fraudulent weight-loss products; fraudulent work-at-home programs; and being billed for a buyers’ club membership the consumer had not agreed to purchase.

Through it’s new Who’s Calling? Recognize and Report Phone Fraud campaign and Web site, the FTC provides three R’s that Hispanic consumers can use to stop fraud:

1. Recognize. Learn steps to avoid telemarketing fraud, including:

- Check the clock. Calling times from legitimate telemarketers are restricted to the hours between 8 a.m. and 9 p.m.

- Ask why they are calling. Telemarketers must tell you it’s a sales call, the name of the seller and what they’re selling before they make their pitch.

- Know who you’re dealing with. Do business only with companies that clearly provide their name, street address, and phone number.

- Protect your personal information. Don’t give your credit card, checking account, or Social Security number to unknown callers.

- Don’t be pressured to make an immediate decision. Just about any offer that’s good today will be good tomorrow, too.

- Get the offer in writing. Get all information in writing before you pay.

2. Report fraud to the FTC.

3. Register your phone number on the National Do Not Call Registry at DoNotCall.gov, or by calling 1-888-382-1222 from the number you wish to register.

For more information about specific types of telemarketing scams, and to learn additional signs of fraud, go to ftc.gov/phonefraud. The site has information on common telemarketing scams, including two short videos. The site also is accessible in Spanish at ftc.gov/fraudetelefonico .

To set-up an interview with an FTC spokesperson who can speak on behalf of the campaign and provide more information about telemarketing fraud, call Rosario Mendez at 202-326-3749. Additional print and online campaign resources are at ftc.gov/phonefraud .”*

She’s had to take a second job as a maid. To save on gas, she rarely drives her car. And she stands to lose her home.

As a lifetime of hard work crumbles under one bad financial decision after another, Alicia Suarez wishes she and her husband had sought better advice.

“By the time we realized we had no money saved in the bank, we were at rock bottom,” said Suarez, 52, of West Palm Beach.

Suarez’s plight is shared by millions of Hispanics and blacks, thousands of them in South Florida, who have suffered critical setbacks in a shrinking economy, according to new data from the National Foundation for Credit Counseling.”*

A surge of drivers from the United States eager to escape record high gasoline prices flooded gas stations near the border crossings yesterday.

Motorists with California plates moved steadily through service stations.

Workers at the stations surveyed yesterday said they were keeping up with the increased demand for regular unleaded and premium gasoline. Diesel was in short supply or out at those stations selling it, workers said.”*