Unexpected Financial Consequences for Hurricane Sandy Victims

Unexpected-Financial-Consequences-for-Hurricane-Sandy-Victims-ImageHurricane Sandy left a wake of destruction for residents of New Jersey, New York and Connecticut.  While wind damage, roof damage, interior damage and flooding are expected consequences of this type of natural disaster, many Hurricane Sandy victims are now dealing with the unexpected financial consequences of bad credit.

Staten Island Women’s Home and Credit Ruined

The physical and emotional aspects of rebuilding a home after a natural disaster can be daunting for even the strongest of us.  However, many Hurricane Sandy victims waiting for their insurance companies to pay their claims are finding that they must take extraordinary measures to make ends meet.  For some, that means skipping mortgage, credit card and car payments to put food on the table.  The result?  Reduced and ruined credit scores that will follow them for years to come.

This issue was recently featured in the Staten Island Advance, which told the story of Staten Island’s Allison Puglisi, a disabled South Beach woman who lost her home in Superstorm Sandy and went into debt while waiting for compensation.  Although she did everything she could to avoid it, she simply did not have any choice but to overextend her credit debt and skip payments.  Puglisi is not alone; there are thousands more just like her who have had to make hard choices and sacrifices that have caused a lot of unnecessary stress.  In fact, so many homeowners have reported being in similar situations that New York Governor Andrew Cuomo is asking credit scoring and rating bureaus to meet with him to address the problem.

Are You Still Waiting For Insurance Compensation?

Most of the federal and state disaster assistance has already been distributed to Hurricane Sandy victims; however, many homeowners have yet to receive their rightful homeowners’ insurance compensation.  If your insurance company has wrongfully denied or delayed your payment or offered you less than what you are entitled to, contact Belluck & Fox, LLP to discuss your situation and determine if your insurance company has treated you in bad faith.  You can fight back.