A Family’s Freedom to Save in Little Rock, AR

Most of Daniel and Carmen Cavazos’ hard-earned salaries went toward high-interest auto loan and credit card payments, leaving little at the end of the month for them and their two young children. The couple had financed their vehicle through an alternative lender who offers loans to Hispanics, who have an Individual Taxpayer Identification Number (ITIN) instead of a social security number. The Cavazos speak limited English, a situation that creates a barrier to financial service access for many immigrants. So, when they came to HOPE our bilingual staff communicated with them in Spanish. HOPE helped the couple refinance the vehicle with a low fixed interest rate, allowing them to consolidate debt for a lower monthly payment. Now, more of Daniel’s wages as a gas pipe construction worker and Carmen’s earnings as a caterer can go toward savings for their children.