SAN DIEGO, CA -- (Marketwire) -- 12/17/12 -- The San Diego bankruptcy attorneys at the Golden State Law Group help business owners and consumers work through their extreme financial difficulties such that they can obtain a fresh financial start. The attorneys at the firm work with people who are suffering from the stress of many different kinds of debt, and one of the most common is student loan debt. In response to a recent quarterly report issued by the Federal Reserve Bank of New York, the firm is offering a free initial consultation to potential clients who cannot manage their finances based on their own student loans.

Specifically, the Federal Reserve Bank of New York issued its quarterly report titled, "Decrease in Overall Debt Balance Continues Despite Rise in Non-Real Estate Debt" that detailed the overall state of debt in the United States as of the end of the third quarter in 2012. The report was released to the public on November 27, 2012.

In the report, the bank stated that the student loan delinquency rate rose to 11 percent, meaning that 11 percent of all outstanding student loans were at least 90 days past due on their last payments. In addition, the report stated that overall student loan debt increased by 4.6 percent in the third quarter as compared to the previous quarter. This represents a jump of nearly 20 percent when extrapolated out over an entire year. Finally, the report stated that the overall amount owed on student loans in the United States stood at approximately $956 billion.

Unfortunately for many people, student loan debt cannot be discharged in a bankruptcy case. However, the San Diego bankruptcy lawyers at the Golden State Law Group are offering a free initial consultation to those who may be struggling with their finances because of the presence of this debt so that their overall financial situations can be analyzed and strategies can be pursued that would reduce the overall burden of debt in general, thereby making it easier to pay down those student loans.

About the Golden State Law Group

The Golden State Law Group is a law firm in San Diego, California that's comprised of a team of San Diego bankruptcy attorneys who provide legal help to consumers and businesses. Specifically, the attorneys at the firm provide help to consumers in the legal areas of student loan debt problems, medical bill issues, consumer bankruptcy, business bankruptcy, tax debt issues and personal injury cases.