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Hurricane Sandy Wreaks Havoc on Credit Reports

2013/05/02 by

Have you guys heard the latest abomination about the Hurricane Sandy victims having incredible amounts of trouble with their credit reports? Basically, Sandy displaced hundreds of people, some of them who are still living in hotels or other people’s homes, and a pretty obvious side effect of this disastrous situation is that people got behind on rent, mortgage payments, or sadly maxed out their credit card limits paying for things like hotels or rental cars. I think it’s pretty obvious that these people should not be penalized for a horrific natural disaster that put a severe strain on the finances of so many. There is good news, however, and that is that Governor Andrew Cuomo is working on convincing credit bureaus to go easy on the storm victims. Nobody should be held at fault for something that Mother Nature caused, right? I think so. The Associated Press reported,

“Ask Allison Puglisi about how Sandy not only destroyed her home, but also ruined her credit, making it even more difficult to get a toehold on stability. “This has been just as stressful” as Sandy, she said.

The disabled South Beach woman would get some relief if Gov. Andrew Cuomo persuades credit scoring and rating bureaus go lightly on storm victims, as he pledged he would do Thursday during a meeting in his Manhattan office with consumer advocates.”

Click here to read more about the financial side effects that Sandy brought in its wake, and what else is being done on the victims’ behalf.

Folks, if you are out there feeling strongly about this, I highly recommend rallying for these people. The Governor has done his part in requesting that the credit bureaus reset the scores of those that had been lowered, and now it’s just up to the credit bureaus to act out of compassion (and, I think, common sense.) Speak up if you agree and let’s get everybody on the same page!

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