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Contact the Law Offices of James Scott Farrin
1-866-900-7078
Contact the Law Offices of James Scott Farrin 1-866-900-7078

Natural Disasters like Hurricane Sandy can Lead to Increase in Bankruptcy Filings

Hurricane Sandy devastated some parts of the East Coast. Homes and businesses were destroyed. Some are left without a place to live. Some businesses will be closed for months.

Tornado_07312014Early estimates of the damage are in the billions, but the true financial impact may not be known for some time. The pace of the cleanup effort will impact businesses, jobs, and economic recovery.

For some, Hurricane Sandy and other natural disasters like it don't just represent a loss of property. Natural disasters that cause as much damage as Sandy did can cause devastating financial loss that can lead to bankruptcy.

First, these natural disasters can destroy personal property and possessions. While some homeowners may be protected by insurance, many others only carry basic protection, which may not cover damages from a natural disaster. Still others may only be renting their homes, and may not carry renter's insurance to protect against damages.

Not only can a natural disaster wipe out a person's home, but it can also destroy valuable personal possessions. When the tally is totaled for the home, cars, and personal items, the damages could be hundreds of thousands of dollars. Few of us have that kind of money in our savings, and without good insurance to cover those damages, few of us would be able to withstand that kind of financial blow.

Second, as Hurricane Sandy showed, natural disasters can shut down businesses for months, leaving some workers without a way to earn a wage. Without savings, a few months without a steady income can be a financial blow to anyone. For some, it could mean losing everything.

Many who are in the path of devastating natural disasters like Hurricane Sandy may find relief from the overwhelming financial stresses through bankruptcy. Depending on the extent of the debts you face as a result of the natural disaster, the type of debts, and your income, you may be able to eliminate some of the debts and seek a fresh financial start.

North Carolina Bankruptcy Lawyers

At the Law Offices of James Scott Farrin, a North Carolina Board Certified Specialist in Consumer and Business Bankruptcy Law may be able to help you find debt relief through bankruptcy. Call 1-866-900-7078 for a free evaluation of your case.

Contact Information

Raleigh Law Office

5848-100 Faringdon Place
Raleigh, NC 27609
Phone: 919-834-1184
Toll Free: 1-866-900-7078

Durham Law Office

280 South Mangum Street, Suite 400
Durham, NC 27701
Phone: 919-688-4991
Fax: 800-716-7881

Fayetteville Law Office

517 Owen Drive
Fayetteville, NC 28304
Phone: 910-488-0611
Toll Free: 1-866-900-7078

Charlotte Law Office

201 McCullough Drive, Suite 220
Charlotte, NC 28262
Phone: 704-599-1078
Toll Free: 1-866-900-7078

New Bern Law Office

1505 South Glenburnie Rd, Unit P
New Bern, NC 28562
Phone: 252-634-9010
Toll Free: 1-866-780-3422

Greenville Law Office

702 G Cromwell Dr.
Greenville, NC 27858
Phone: 252-355-5205
Toll Free: 1-866-780-3227

Greensboro Law Office

300 N. Greene Street, Suite 850
Greensboro, North Carolina 27401
Phone: 336-665-7072
Toll Free: 1-866-900-7078

Goldsboro Law Office

214 South William Street, Suite 3
Goldsboro, NC 27530
Phone: (919)-731-2581
Toll Free: 1-866-900-7078

Henderson Law Office

514 Dabney Drive, Suite 200
Henderson, NC 27536
Phone: 252-492-4600
Toll Free: 1-866-900-7078

Roanoke Rapids Law Office

709 Julian R. Allsbrook Highway
Roanoke Rapids, NC 27870
Phone: 252-537-9670
Toll Free: 1-866-900-7078

Rocky Mount Law Office

3202 Sunset Avenue, Suite B
Rocky Mount, NC 27804
Phone: 252-937-4730
Toll Free: 1-866-900-7078

Sanford Law Office

703-B South Horner Boulevard
Sanford, NC 27330
Phone: 919-775-1564
Toll Free: 1-866-900-7078

Wilson Law Office

2315 Airport Blvd Suite A
Wilson, North Carolina 27896
Phone: 252-246-9090
Toll Free: 1-866-900-7078

Winston-Salem Law Office

301 N. Main Street, Suite 2409-C
Winston-Salem, NC 27101
Toll Free: 1-866-900-7078