Haitian American Caucus Issues Emergency Call to Action

Haitian American Caucus Issues Emergency Call to Action Over Treatment of Haitian Migrants

Brooklyn, NY: The Haitian American Caucus vehemently condemns the ongoing mistreatment of Haitian migrants by federal officials, and the lack of action taken by our elected officials to end this inhumane treatment. In the latest instance of inhumanity in immigration, The Miami Herald recently reported that on Friday, November 25, 2022, a United States Coast Guard cutter returned approximately 190 migrants seeking refuge in the U.S. to Haiti. Among them were 46 children. The migrants were found aboard a rickety sailboat by a USCG patrol, and many were removed from the vessel under stormy conditions. Eventually, the boat ran aground in Islamorada, FL, and after an exhaustive search, it was believed that all of the migrants were accounted for and in the custody of Border Patrol. However, the body of a man in gym shorts was found unresponsive floating in the water approximately 150 yards off the coast of Windley Key, FL. Haiti continues to languish under the ineffective leadership of the Henry government and suffer the effects of the ongoing gang wars & unrest. We are calling on our partners in elected office to utilize their platforms to take action for the Haitian community. All asylum seekers deserve to be treated with dignity and compassion, and the United States is failing our Haitian compatriots. l In all of this, Barbados is in transition, a necessary but tough process for future survival often not fully understood. The inspiring appearances of Prime Minister Mia Mottley on the world stage, speaking about climate change and funding equity, are as important to repositioning Barbados to secure a place in the world as the deliberate outreach to African countries, the moves to alternative energy and the regrouping around agriculture at home. Transitioning takes time but already the evolving process is bearing fruit. The first Fintech Islands Conference has opened up possibilities. There have been important business developments between private sector entities in Barbados, Ghana and Sierra Leone. Afriximbank is set to establish a hub in Barbados and a transformative agreement with Rwanda to have large-scale pharmaceutical manufacturing in Barbados was just signed. Equally consequential, Barbados and Guyana have signed a wideranging agreement towards food security. Elements of this are already in train. As has been the case throughout our history, our people will be at the heart of this transition process and will drive it. Wherever we are, we are all Barbadians and, together, we will build a brighter future, as we have built a worthy past, in the words of our National Anthem, “in strength and unity”. So let us celebrate the many successes of our small but powerful country on the 56th anniversary of Independence and First anniversary as a Republic. Happy celebrations! May God continue to bless Barbados and bless us all.l

Editorial credit: Ringo Chiu / Shutterstock.com Barbados/continued from page 8

Rihanna, Barbados’ most famous daughter and Ambassador became a billionaire and a mom. Editorial credit: lev radin / Shutterstock.com

Bankruptcy Guide: Your Personal Bailout Inflation and Saving Your Home from Foreclosure and Predators

BY ERIN TELESFORD

According to The Economics Daily: US Bureau of Labor Statistics, over the 12 months ended June 2022, the Consumer Price Index for All Urban Consumers increased 9.1 percent. The 9.1-percent increase in the all items index was the largest 12-month increase since the 12month period ending November 1981. Prices for food increased 10.4 percent for the 12 months ending June 2022, the largest increase since February 1981. Prices for food at home rose 12.2 percent over the last 12 months, the largest increase since April 1979. Prices for food away from home rose 7.7 percent, the largest 12-month change since November 1981. Energy prices rose 41.6 percent over the last year, the largest 12month increase since April 1980. Within the energy category, motor fuel prices (which includes all types of gasoline) increased 60.2 percent over the year. Gasoline prices increased 59.9 percent; the largest 12-month increase since March 1980. Electricity prices rose 13.7 percent, the largest 12-month increase since April 2006. Natural gas (piped utility gas) prices increased 38.4 percent over the 12 months ended June 2022, the largest increase since October 2005. Prices for new vehicles increased 11.4 percent over the year, prices for used cars and trucks were up 7.1 percent, while prices for motor vehicle parts and equipment increased 14.9 percent. The greatest financial crisis in the United States was last recession which spanned from December 2007 to June 2009. During this time, unemployment rates were raised by about 6.1% resulting in a loss of consumer spending and business investments. Before the recession, many Americans bought houses using mortgages they couldn’t afford, eventually causing them to fall into poverty and their homes into foreclosure. The effects of the Great Recession did not recover once the economy stabilized in 2009. continued on page 3

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Student Loan Cancellation Got Blocked. Now What? 3 Questions Answered

BY WILLIAM CHITTENDEN THE CONVERSATION

When the Biden administration announced in August 2022 that it was canceling up to $20,000 in student loan debt per borrower, it said the idea was to provide families with “breathing room as they prepare to start repaying loans after the economic crisis brought on by the pandemic.” But two federal courts recently blocked President Joe Biden’s student loan relief program, ruling it unconstitutional. This article explains why and what’s next for student loan borrowers still hopeful that their loans can be forgiven.

1. Why was Biden’s student loan cancellation program blocked? It was found to be unconstitutional. That determination was made on Nov. 10, 2022, by Judge Mark Pittman of the U.S. District Court of Northern Texas, who ruled that the Higher Education Relief Opportunities for Students Act of 2003 –or Heroes Act – “does not provide the executive branch clear congressional authorization” for a student loan forgiveness program. He said further that the program was “an unconstitutional exercise of Congress’s legislative power and must be vacated.” The judge’s ruling prevents any student loans from being forgiven “until a final verdict is made” in the case. Technically it could go to the Supreme Court, but it may also be settled at the appellate court level. In a separate case, on Nov. 14, a threejudge panel with the United States Court of Appeals for the 8th Circuit temporarily blocked the program until the case is resolved in court. The 8th Circuit covers seven states, including Missouri, which is one of several Republican-led states seeking to block the program.

2. Can it be unblocked? Both court decisions could be reversed. The Biden administration has argued that the Heroes Act of 2003 allows the Secretary of Education to forgive student loans for those affected by the pandemic. The Biden administration has already filed a notice to appeal the Nov. 10 ruling by Pittman. On Nov, 18, the Biden administration asked the Supreme Court to vacate the order by the Court of Appeals blocking student loan forgiveness. The Supreme Court has asked the plaintiffs in the case to provide their response by Nov. 23, 2022. It is unclear how the full court might rule. However, in two previous instances, Justice Amy Coney Barrett has shot down attempts to block the student loan forgiveness plan.

3. What kind of relief can student loan borrowers get in the meantime? Currently, student loan payments are paused but are scheduled to start again –either 60 days after the legal cases against the program have been resolved, or 60 days after June 30, 2023, whichever comes first. The Biden administration could extend the payment pause beyond December 2022. However, in August 2022 – when the most recent payment pause extension was announced – the White House stated that it was supposed to be the final extension. Despite the setback for widespread student loan forgiveness, some borrowers may still qualify for one or more targeted student loan forgiveness programs. These groups include borrowers who attended a school that shut down. Student loans may also be forgiven for those who are totally and permanently disabled. Students who were defrauded by their school – such as by being misled about job placement rates for graduates or the true cost to attend the school – may also be eligible. In November 2022, the Biden administration released new rules to make it easier for student loans to be discharged in bankruptcy. If a student loan borrower can prove their expenses are equal to or greater than their income, the student loan debt may qualify to be eliminated in bankruptcy. l

William Chittenden is an Associate Professor of Finance, Texas State University

Foreclosure & Predators/ continued from page 1 According to The State of Working America, “In October 2010, 16 months after the official end of the recession, the economy still had 5.4% fewer jobs than it did before the recession started.” The unemployment levels are little to no better now, and speculation that another economic collapse has come into the news. The devastation of the Great Recession implored many people to take better action with their finances and mortgages in fear of another financial crisis that could cause them to lose their homes. However, many Americans lack knowledge on the options available for them in lieu of another recession and end up needing to file for bankruptcy when financial hardship arises. Much of the recent financial problems lower income individuals and families face are a result of their inability to afford or deal with unexpected major expenses such as job loss or medical bills. When these expenses become detrimental, one decision could be to file for bankruptcy. According to a study published recently, 46 percent of bankruptcies were related to outstanding medical conditions. The major cited reasons in this category included injury or illness, medical expenses not covered by insurance or losing at least two weeks’ worth of work because of illness. Other causes of bankruptcy include reduced income, job loss, credit debt, illness/injury, unexpected expenses and divorce. In the same time period, the percentage of filers age 55 or older more than doubled; those filers now account for about 20 percent of all bankruptcy petitioners. The study also found that 60 percent of bankruptcy filers have salaries of less than $30,000. Bankruptcy is not a moral decision. It is a legal choice made when the debt situation is hopeless. Filing for bankruptcy can save your home and also stop wage garnishment. This can be troublesome due to the racial inequality involved with lawyers who specialize in bankruptcy. In an interview with Brian Figeroux, Esq., on the radio show, Ask the Lawyer, he stated that you must” know the motives of the person giving you advice. There have been cases where people of color in America, specifically black Americans, encountered lawyers and investors who claim to want to help them save their homes when, in reality, “10 out of 10 times, they are trying to hoodwink you.” Figeroux also warned about a New York Times article which stated that white attorneys were not giving the best advice to black clients. According to the New York Times article, Blacks Face Bias in Bankruptcy, by Tara Siegel Bernard, Blacks are about twice as likely as whites to wind up in the more onerous and costly form of consumer bankruptcy as they try to dig out from their debts, a new study has found. The disparity persisted even when the researchers adjusted for income, homeownership, assets and education. The evidence suggested that lawyers were disproportionately steering blacks into a process that was not as good for them financially, in part because of biases, whether conscious or unconscious. The vast majority of debtors file under Chapter 7 of the bankruptcy code, which typically allows them to erase most debts in a matter of months. It tends to have a higher success rate and is less expensive than the alternative, Chapter 13, which requires debtors to dedicate their disposable income to paying back their debts for several years. The study of racial differences in bankruptcy filings was written by Robert M. Lawless, a bankruptcy expert and law professor, and Dov Cohen, a psychology professor, both with the University of Illinois; and Jean Braucher, a law professor at the University of Arizona. A survey conducted as part of their research found that bankruptcy lawyers were much more likely to steer black debtors into a Chapter 13 than white filers even when they had identical financial situations. The lawyers, the survey found, were also more likely to view blacks as having “good values” when they expressed a preference for Chapter 13. As communities of color, we have to be aware of what is happening. Persons are coming into our communities, offering to purchase our homes for cash. These persons are not trying to help you. Your property is an investment. It is the path to wealth-building and transferring wealth from one generation to another. Do not be fooled. Figeroux's real estate office, Equity Smart Realty, Inc., was created because he “saw how our people suffered” from these types of scams and wants to be truthful with the black community in order to prevent the wrongful foreclosure of our community’s houses through bankruptcy consultation. For a bankruptcy or save your home from foreclosure consultation with the Law Firm of Figeroux and Associates, call 855-768-8845.l

Divorce and Foreclosure: What You Need to Know

BY VICTORIA FALK

What do you do when “I do” turns into “I don’t,” and you can no longer stand to be in the presence of the person that you imagined you would spend the rest of your life with? You vowed to be together “…for better, for worse, for richer, for poorer, in sickness and in health….” However, the sight of this person now ‘makes you sick,’ and you wonder if things can get any worse. Divorce becomes inevitable. Divorce can be devastating, as two people who legally joined their lives together return to living separate lives. Gone are the hopes and dreams of “forever,” and in many cases, there may be a loss of income. As a result of divorce, individuals who enjoyed, in many cases, shared savings and shared living expenses are now faced with the challenge of maintaining a household without the same level benefit of financial assistance from another person that was previously received. It may be a financial challenge for one spouse to purchase the house from the other or maintain the full responsibility of taking care of the homeowner’s expenses on their own. The relationship between the divorce rate and the foreclosure rate is evident, with the foreclosure rate increasing as the divorce rate increases. According to a study conducted by Citywide Home Loans, divorce is one of the most common foreclosure causes. “Frequently, divorce means that one person is designated as responsible for making mortgage payments. This can put financial stress on the individual making mortgage payments, especially if there are missed spousal support payments. The stress that the divorce process brings (both emotional and financial), along with impaired communication, can also mean missed mortgage payments,” found Citywide Home Loans. However, divorce does not have to lead to foreclosure. There are things for the divorcing couple to consider. According to AllLaw, “A couple going through foreclosure at the same time they are going through a divorce should be aware of several issues such as: Who is responsible for the remaining debt on the home? How will the debt be repaid? What will happen to the house?” They may decide that one spouse may ‘become the sole owner’ of the property, or if neither of them wants the house, …they can attempt a short sale or deed in lieu of foreclosure. If one spouse will take over the property and the mortgage, that spouse can then apply on their own for a modification or refinance.” Most divorcing couples cannot communicate on the level needed to come to a compromise regarding the home and the mortgage on their own due to the deterioration of their marital relationship. As a matter of fact, it is not uncommon for one spouse to want the other “to get out of the house” and/or to accuse the other person of wanting to miss required mortgage payments to spite the other spouse intentionally. Thus, increasing the likelihood of foreclosure. An experienced divorce attorney and real estate expert, such as Mr. Brian Figeroux, of Figeroux and Associates, can assist those going through a divorce who are also facing foreclosure. Missed mortgage payments and foreclosure can affect your credit history years after the divorce. So, know your rights and responsibilities. If you or someone you know is in the process of divorce and facing foreclosure, then it is a critical time to speak to a lawyer. Visit www.askthelawyer.us to get expert legal advice today. l