The aftermath of a natural disaster can be a time of immense stress and confusion. One crucial step in the recovery process involves reconstructing lost or damaged records to secure vital financial assistance and insurance reimbursements.
Recover Existing Digital Copies:
- Check all of your old emails, cloud storage platforms, and external hard drives that may have survived for digital backups of important documents. This can be a lifesaver if you have a habit of electronically storing crucial information.
- In cases of extensive damage, consider utilizing a professional document restoration service. These specialists employ specialized techniques to recover data from damaged records, potentially salvaging valuable information you may have thought lost.
Contact Relevant Agencies:
- Medical Records: Maintaining access to your medical history is crucial for ensuring continuity of care after a disaster. Request copies of your medical records directly from your healthcare providers.
- Personal Documents: Secure replacements for vital personal documents such as Social Security cards (Social Security Administration), driver’s licenses (DMV), birth certificates (Vital Statistics Office), and passports (Passport Agency).
- Tax Records: The IRS website offers a quick and efficient way to recover lost tax information. You can access free IRS tax return transcripts directly online for the past few years. Alternatively, call 1-800-908-9946 to order your tax transcripts by phone.
- Personal Financial Statements: Gather past statements from your bank or credit card company, either online (download or print copies) or by requesting paper copies directly.
- Business Financial Records: Reach out to your banking institution(s), vendors, customers, and check online for records in emails and business management systems. Consult with your accountant or business attorney for guidance on replacing additional business documents. These professionals can advise on the best course of action for recovering essential business records and ensuring compliance with legal requirements.
Property Records:
- Real Estate: Contact your county assessor’s office to obtain property tax records and information on your property’s pre-disaster value.
- Homeownership: Retrieve copies of deeds, purchase agreements, and other crucial property records from the title/escrow company or bank involved in your property purchase.
- Home Improvements: Request statements verifying the work and cost of improvements from contractors you hired. If contractor statements are unavailable, written descriptions from witnesses who saw your home before and after renovations can be helpful in documenting value.
- Inherited Property: Check court records for probate values or consult with the attorney who handled the trust/estate for information on the inherited property’s value at the time of transfer.
- Insurance Documents: Contact your insurance company to file a claim and review your policy details. Gather any existing insurance documentation that you can to expedite the claims process.
Vehicle Records:
- To request a copy of your car or truck registration or title, contact your local department of motor vehicles: SCDMV or NCDMV
- Research fair-market value online or at a library for the estimated worth of your vehicle to compare with your insurance company’s estimate.
- Utilize resources from reliable sources like Kelley Blue Book or Edmunds to determine the pre-disaster value of your vehicle.
- If you have a regular auto repair shop, contact them to see if they have copies of your vehicle’s maintenance records, as the records may also be helpful for insurance purposes.
Additional Resources:
IRS Around the Nation Page: Stay updated on disaster tax relief specific to your area by visiting the IRS “Around the Nation” page . This resource can provide crucial information on tax filing extensions or which deductions available after a disaster.
Federal Emergency Management Agency (FEMA): FEMA may offer support for replacing lost documents after a natural disaster. This agency can be a valuable resource for financial assistance and guidance on various recovery efforts, including document replacement.
Document the Damage:
- Immediately take pictures or videos of your damaged personal items and property. This visual evidence can be critical for supporting insurance claims and demonstrating the extent of your losses.
- Write down as much as you can remember about the furniture, appliances, electronics, and other personal belongings that were damaged or lost due to the disaster.
- Search online in your email and cloud storage for any receipts and records that may help to support your claim.
- Check your credit report to see if late payments have affected your credit score so you can add a statement to your report explaining your situation.
While this guide provides a starting point, rebuilding records can be a complex process, especially in the aftermath of a major disaster.
There are other types of assistance available, such as:
Disaster Unemployment Assistance: Provides unemployment benefits and reemployment services to people who are unemployed due to a disaster.
Disaster Supplemental Nutrition Assistance Program: Provides food assistance to low-income households.
Disaster Tax Relief: Provides delayed payment or filing deadlines.
FEMA’s Individuals and Households Program: Provides financial assistance and direct services to eligible individuals and households.
For some – even after having done everything that they can to recover their losses and their important documents after a natural disaster – they may find themselves unable to pick up where they were last in regards to their financial situation. Bankruptcy filings often increase in the years following a natural disaster, especially in areas that are directly affected. This is because people may try to recover from the disaster before realizing they just cannot manage their current financial situation.
Bankruptcy rates are higher in areas with many low-cost homes, where FEMA payments are lower. Areas with more extensive damage may have access to more grants and loans, which could lower bankruptcy rates, but states hit by hurricanes often see a sharp rise in bankruptcy filings within three years. This surge, reaching 50% higher than normal, stems from the financial strain due to storm damage and expenses. Lack of flood insurance is a major factor, as FEMA assistance is capped off at a certain level.
Bankruptcy is not always an option that is available to everyone, and determining the type of bankruptcy to file for is important. Seeking experienced legal advice to determine the correct method to use can make all the difference. Professional legal representation may help to protect the rights of the individual debtor or your business, and helps to ensure that all of the necessary paperwork is filled out properly.
If you’re considering bankruptcy after a natural disaster, you may consult with a bankruptcy attorney to help you determine if bankruptcy is the right option for you.
While a majority of debt can be discharged through filing for Chapter 7 bankruptcy, not all debts can be, such as secured debts and federal student loans. The United States Bankruptcy Code lists 19 categories of debt that cannot be discharged. An experienced bankruptcy attorney at The Floyd Law Firm can advise you of which debts can be subject to discharge and what type of filing may be best for your situation. Contact us for further information and consultation.
