“Bankruptcy is a last resort for most people, but necessary to obtain relief from debts and to obtain a fresh start."- Charles Daff
LOS ANGELES, CA, US, September 10, 2020 /EINPresswire.com/ — A recent Los Angeles Times article showed that a majority of Los Angeles households face serious financial problems due to the COVID-19 pandemic, with Latinos and Black residents bearing the brunt of the economic toll, according to a new poll conducted in the nation’s four largest cities. The poll found that some 56% of households polled in the city of L.A. reported having such financial problems, including 64% of households with annual incomes below $100,000. The study found similar results among Black and Latino respondents in New York, Houston, and Chicago, the three other cities examined. Acclaimed Bankruptcy Attorney and recent winner of the Best of Los Angeles Award – "Best Bankruptcy Attorney – 2020", Charles Daff, gives his thoughts on the findings below.
As a specialist in Personal and Small Business Bankruptcy Law, Charles Daff states, “These populations are faced with the daily necessity to pay for rent, utilities, and food at a minimum. The lockdown in Los Angeles since March 2020 and the government efforts to support the population with the $1200 CARE payment and increase in unemployment benefits fall short to meet all of the basic needs for everyone.”
The survey offers further proof that the heaviest effect of the outbreak has fallen on Black and Latino households, with 52% and 71%, respectively, of those groups polled in Los Angeles reporting “serious financial problems,” compared with 37% of white households. Charles Daff continues by stating, “While this money meets some requirements to sustain a household, it does not provide payment for medical needs or payment for consumer credit card debts and auto payments. Eventually, the consumers in the Black and Latino groups will be forced to seek another remedy because of their loss of income.
Daff highlights that the most common contributing factor to file bankruptcy is a loss of income and what possible future outcomes may result from these decisions. He concludes by stating, “Bankruptcy is a last resort for most people, but necessary to obtain relief from debts and to obtain a fresh start. These upcoming months for consumers passing through the pandemic and coming into their own economic recovery may result in the increase in filing of bankruptcy cases. In some quarters, it is described as a coming "tsunami."
College of Law in June 1977 with a Juris Doctorate Degree. He graduated from California State University, Fullerton in June 1974 with a B.A. Degree in Political Science. Charles W. Daff has resided in Orange County, California since 1970 where he attended college, attended law school and currently maintains his practice of law. Charles W. Daff was admitted to the State Bar of California in December 1977. He is admitted to all the state courts in the State of California and all of the United States District Courts in California. In September 1987, he was appointed to the Chapter 7 Trustee Panel by the Office of the United States Trustee, Orange County Office and currently services as a 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 Commercial and Bankruptcy Section), National Association of Consumer Bankruptcy Attorneys, Orange County Bankruptcy Forum, Inland Empire Bankruptcy Forum and American Bankruptcy Institute and National Association of Bankruptcy Trustees. He was designated a “Super Lawyer”, an award granted to the top 5% of attorneys in Southern California.
Since February 1995, Charles W. Daff has been a Specialist in Personal and Small Business Bankruptcy Law as certified by the California Board of Legal Specialization, State Bar of California. Charles W. Daff has been a member of the Advisory Commission for the Personal and Small Business Bankruptcy Specialist Commission for the State Bar of California and was a member of the Advisory Commission from September 1999 through September 2002 and September 2007 through September 2010.
He speaks on bankruptcy issues for a variety of groups and organizations, including the National Business Institute, the Orange County Bankruptcy Forum, Inland Empire Bankruptcy Form and Orange County Bar Association. Attorney Charles W. Daff assists clients with Debt Relief, Personal Bankruptcy, Chapter 7, Chapter 11, Chapter 13, Foreclosure, Garnished Wages and Repossessions in Santa Ana, California as well as 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 County.
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Source: EIN Presswire