"Bankruptcy is the last resort for most people, but it is necessary to reduce debt and make a fresh start." – Charles Daff
LOS ANGELES, CA, USA, September 10, 2020 /EINPresswire.com/ – A recent article in the Los Angeles Times showed that the majority of Los Angeles households are facing serious financial problems due to the COVID-19 pandemic, below that Latinos and Blacks live the brunt of the economic toll, according to a new survey conducted in the country's four largest cities. The survey found that 56% of households surveyed in the city of LA said they had such financial problems, including 64% of households with an annual income of less than $ 100,000. The study found similar results among Black and Latino respondents in New York, Houston, and Chicago, the other three cities studied. Acclaimed bankruptcy attorney and recent Best of Los Angeles Award winner – "Best Bankruptcy Attorney – 2020" Charles Daff comments on the following results.
Charles Daff, specialist in bankruptcy law for private and small businesses, explains: “These sections of the population are confronted with the daily necessity of paying at least rent, utilities and food. The lockdown in Los Angeles since March 2020 and the government's efforts to support the population by paying USD 1200 CARE and increasing unemployment benefits are not enough to meet everyone's basic needs. "
The poll provides further evidence that the biggest impact of the outbreak has fallen on black and Latin American households. 52% and 71% of the groups surveyed in Los Angeles reported "serious financial problems," compared with 37% of white households. Charles Daff continues, “While this money meets some household maintenance needs, it does not provide payment for medical needs or payment for consumer credit card debt and automatic payments. Eventually, consumers in the Black and Latino groups will be forced to seek another remedy because of their loss of income.
Daff emphasizes that the most common factor in bankruptcy is loss of income and what possible future outcomes these decisions may bring. He concluded: “Bankruptcy is the last resort for most people, but it is necessary to reduce debt and make a fresh start. These coming months for consumers going through the pandemic and getting into their own economic recovery may result in more bankruptcy cases being filed. In some areas it is described as the coming "tsunami".
College of Law in June 1977 with a Juris Doctorate. He graduated from California State University at Fullerton in June 1974 with a B.A. Degree in political science. Charles W. Daff has lived in Orange County, California since 1970, where he attended college, attended law school, and currently maintains his legal practice. Charles W. Daff was admitted to the California bar in December 1977. He is admitted in all state courts in the state of California and in all district courts of the United States in California. In September 1987, he was appointed to the Chapter 7 Board of Trustees by the United States Trustee's Office, Orange County Office, and currently serves as the Chapter 7 Panel Trustee in the Riverside Division of the court. He is a member of the State Bar of California, the Orange County Bar Association (and its Commerce and Bankruptcy Divisions), the National Association of Consumer Bankruptcy Attorneys, the Orange County Bankruptcy Forum, the Inland Empire Bankruptcy Forum, and the American Bankruptcy Institute, and the National Association of Bankruptcy Administrators. He was named a Super Lawyer, an award given to the top 5% of Southern California lawyers.
Charles W. Daff has been a bankruptcy law specialist for private and small businesses since February 1995, certified by the California Board of Legal Specialization of the State Bar of California. Charles W. Daff served on the Advisory Board to the Bankruptcy Specialists' Commission for Private and Small Businesses of the State Bar of California and served on the Advisory Board from September 1999 to September 2002 and from September 2007 to September 2010.
He speaks on bankruptcy issues for a variety of groups and organizations including the National Business Institute, Orange County Bankruptcy Forum, Inland Empire Bankruptcy Form, and the Orange County Bar Association. Attorney Charles W. Daff assists clients with debt relief, bankruptcy, Chapter 7, Chapter 11, Chapter 13, foreclosure, garnished wages, and redemptions in Santa Ana, California, Irvine, Orange, Garden Grove, Tustin, Anaheim, Fountain Valley, Villa Park, Fullerton, Atwoord, Costa Mesa, Midway City, Westminster, Stanton. Placentia, Newport Beach, and Yorba Linda in Orange County, Los Angeles County, Riverside County, and San Bernadino Counties.
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September 11, 2020 at 4:29 am GMT
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