Published Wednesday, January 25, 2012 @ 7:36 am

“This matter is serious and will cause problems at the job.”

Believe it or not this is exactly what collection representatives from California-based debt collection company, Rincon Debt Management, were asked to tell unassuming Americans each time they attempted to collect on back debts.

But based on a complaint filed by the Federal Trade Commission, often the debtor they were trying to pressure didn’t owe any money at all.…

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Published Saturday, January 21, 2012 @ 7:09 pm

Amid encouraging job figures that the private sector is surging, it’s important to take a second look at the sad state of the so-called “American Dream.”

In a new article, the New York Times does just that, finding that “Americans enjoy less economic mobility than their peers in Canada and much of Western Europe.…

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Published Friday, January 20, 2012 @ 7:08 pm

Jobs in the private sector may be on the way up—a complete change of pace from the post-Recessionary years—but optimism about the mortgage industry is still way down in the wake of massive foreclosure abuses at major mortgage lenders.

In fact, The New York Times recently published a shocking article detailing the struggles of homeowners facing foreclosure framed by mortgage servicing horror stories piling up all across the nation.…

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Published Friday, December 30, 2011 @ 6:20 pm

According to a new report from the 2012 U.S. Banking Sector Outlook, the New Year’s ring could signal a major “cha-ching” for banks in 2012, as financial institutions all across the country react to timely federal restrictions by scrambling to add new fees to their recession weary customers.

Coming from a new report from The Huffington Post’s Catherine New, “ In 2012, expect to see higher minimum balance requirements and an ongoing push to increase customers’ credit card spending, according to a “2012 U.S.…

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Published Monday, December 19, 2011 @ 7:52 am

We all know that the Christmas holiday is a time for turkey-filled table settings, overstuffed family reunions, and, quite literally, reflecting on what we are fortunate to have- for large and small blessings throughout the year. But for many jobless Americans from California to the Carolinas, finding even the smallest things to be grateful for is more of a struggle in 2011 than possibly ever before, as they not only face limited unemployment incomes, but diminishing benefits in the new year.…

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Published Friday, December 16, 2011 @ 10:50 pm

As we’re all aware, this decade’s Great Recession has dealt, and continues to deal, a significant blow to the budgets of many American families, leaving millions in debt, underwater in their mortgages, and in some cases falling behind on their tax bills, adding to their economic unrest.

So, even though tax day 2012 is weeks away, and the holidays may already have your full attention, it’s worth noting that there are some timely tips you can take between now and Dec.…

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Published Tuesday, December 6, 2011 @ 3:32 pm

In a classic case of what goes up, must come down, the world’s forth largest airline is now seeking the safe havens of bankruptcy so that it might once again be “something special in the air.”

According to Reuters, American filed for Chapter 11 bankruptcy protection this week “to cut labor costs in the face of high fuel prices and dampened travel demand, capping a prolonged descent for what was once the largest U.S.…

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Published Tuesday, December 6, 2011 @ 12:32 pm

A couple of months ago we reported that North Carolina one of ten states with the largest employment gaps. That meant that as of this summer, the state of North Carolina would have needed to generate nearly 500,00 additional jobs in order to keep up with growing population numbers and old and new workers flooding the Tar Heel market in future months and years.…

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Published Tuesday, December 6, 2011 @ 8:34 am

The fairer sex appears to be getting a less than fair shake at new jobs created in the wake of the economic downturn. In October, we reported that women have recovered just 9 percent of jobs lost, and men are recovering nearly three times faster. And things haven’t gotten much better.…

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Published Friday, December 2, 2011 @ 5:48 pm

In this blog we often talk about the benefits of bankruptcy for individuals and businesses—debtors who are part of the American fabric that are facing the significant financial perils of the current economic malaise.

But what if one of the financial entities that is often the primary culprit for harassing these same American debtors seeks the safe havens of bankruptcy relief?…

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Published Tuesday, November 29, 2011 @ 3:14 pm

Historically speaking, the day after Thanksgiving often leaves many people asking, “what Recession?” as millions of American shoppers cut coupons, stand in long lines, and bombard our nation’s stores for extreme sales on what has now come to be know as “Black Friday.” In fact, last year we saw even bigger crowds at many stores including Best Buy, Sears, Macy’s and Toys R Us, which offered earlier openings than in past years or even round-the-clock hours meant to draw in average American shoppers.…

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Published Thursday, November 3, 2011 @ 2:51 pm

We’ve all seen them.

Envelopes full of checks and other offers filling our mailboxes these days touting 0% or 2.99% and other low-to-no interest balance transfers for your more costly credit cards. These seductive rates do come at a cost if you don’t know what to look out for.

So check out these five tips to avoid getting taken advantage of, when taking advantage of balance transfer offers, including:

#1 Inspect the Interest Rates
When playing the balance game, the best bets are obviously the lowest interest rates available.…

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Published Monday, October 31, 2011 @ 12:45 pm

Ghosts and goblins and ghouls are normally the horrifying hallmarks of annual Halloween holiday, satisfying generations of trick-or-treaters, horror movie aficionados, and lovers of frightfully fun parties during every seasonal stand.

But in these tough economic times, when consumerism can’t keep up with flagging incomes and mounting debt, the scariest thing about Halloween may be that we spend so much money on it.…

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Published Wednesday, October 26, 2011 @ 6:36 pm

Despite recent findings that the number one thing Americans waste their money on is eating out, a new survey provides the proverbial “food for thought” to those who believe they are struggling alone in their own personal financial crisis.

A report from Seattle Weekly finds that more than half of all Americans say they’ve recently gone a year without dining out, in what may be one of the clearest signs of how the current economic malaise is impacting our ability to consume even the most basic luxury choices.…

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Published Sunday, October 23, 2011 @ 7:14 am

We talk a lot here about the trials and travails of underemployment, a perpetual condition of post-recessionary America, in which many, if not most, workers face stagnant wages and/or part-time jobs that fail to keep up with the rising cost of living in the new economy.

In particular, retail workers struggle for hours amid a weak economic recovery, clamoring for extra work in this lower-skilled and paying field.…

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Published Friday, October 21, 2011 @ 5:29 pm

It’s hardly news to most Americans that good jobs in the U.S. wounded economy are more than hard to come by. But with news that the job market is as tough as it’s been in three decades, is now having a substantial impact on America’s ability to bounce back.

According to a new report from Reuters, “U.S.…

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Published Thursday, October 13, 2011 @ 8:10 am

…unions?

That’s right.

Forget federal stimulus or tax cuts for the wealthy or even a new, formal jobs plan. Because according to a new analysis of Census data from the Center for American Progress, a boost in incomes of the union members by just one-tenth, “would increase middle-class incomes by $1,479 per year — even for those who aren’t members.”

In fact, according to the study, the rise in income is higher than if the unemployment rate dropped by four percentage points—a scenario that would increase middle class incomes by only $772 per household.…

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Published Wednesday, October 12, 2011 @ 6:10 pm

While men were the ones initially reeling from the recent recession, women are now the ones with more and more reason to worry.

According to an Institute for Women’s Research Policy report released Monday, even though unemployment levels have steadily decreased for men over the past year, very few women are able to return to work in 2011, resulting in a significantly higher percentage of female Americans who continue to have deep concerns about their financial futures.…

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Published Thursday, October 6, 2011 @ 6:55 am

After suffering through years of an economic downturn driven by a mortgage crisis, rising consumer debts, and mounting health care costs, of late many average Americans are increasingly hungry for the country to rebound financially. Unfortunately, at the same time, a confluence of events is prompting a resurgence of literal hunger in the U.S.…

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Published Wednesday, October 5, 2011 @ 7:51 am

In what is becoming a “developing” story, financial news outlet Bloomberg is reporting that Eastman Kodak Company is currently weighing the benefits of a bankruptcy filing. The 131-year-old U.S. camera company recently hired law firm Jones Day for restructuring advice, the Wall Street Journal reported. Long known for its wide range of photographic film products, Kodak had recently tried to turnaround years of dramatic declines by refocusing on the major markets of digital photography, digital printing and its planned sale of 1,100 digital imaging patents, which the company said accounted for about 10 percent of its total patent portfolio.…

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Published Tuesday, October 4, 2011 @ 7:45 am

If it seems like it’s been a while since we’ve talked about the rising cost of health care, that’s because up until this year, these mounting medical costs had leveled.

But in the new America, it seems you can’t keep a high cost down.

In reality, the costs of employer-sponsored health insurance surged during 2011, cutting short a timely trend toward only “moderate growth.” According to a report released this week by the Kaiser Family Foundation and the Health Research and Educational Trust, annual premiums for family coverage climbed 9 percent and surpassed $15,000 for the first time.…

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Published Monday, September 26, 2011 @ 1:27 pm

Poverty is now a common (and growing) problem for America’s single moms as jobs, and social safety nets fade as quickly as the economy tanked, according to a new article from The Huffington Post.

“In 2010, the first full calendar year after the Great Recession, nearly 41 percent of the nation’s single mothers with children under age 18, like Williams, lived on incomes below the federal poverty line.…

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Published Sunday, September 25, 2011 @ 10:20 am

Foreclosures? Theeeey’re Baaaaack.

After several months of falling default rates, foreclosures were up again in August 2011, rising by about 7 percent compared to the month before. In fact, according to new numbers from the real estate firm RealtyTrac, some of the biggest increases were in the nation’s wealthier places: suburbs, industrial hubs, as well as small town service worker centers, already hard-hit by the great recession.…

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Published Tuesday, September 20, 2011 @ 8:03 am

For many recent graduates from colleges and universities all across the country, any job must feel better than no job at all. Shortly after graduation in May 2011, thousands of grads from Washington State to UNC-Wilmington, turned their back on student life and turned back on their computers only to begin their first official job searches—sending out e-mail-loads of resumes in what would become for many a months-long search for work….any work.…

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Published Monday, September 19, 2011 @ 8:51 am

The big news recently seems to be rising unemployment, with jobs coming back into focus as yet another election season begins to heat up. But a recent jump in another bad economic bellwether—home foreclosures—is a new cause for concern in these uncertain economic times.

According to a latest reports, the number of mortgage-default notices filed by banks climbed 33 percent between July and August — the biggest single-month increase in four years, according to the data provider RealtyTrac.…

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Published Tuesday, September 13, 2011 @ 1:21 pm

When President Obama released his eagerly anticipated $45 billion jobs plan last week, many economists were quick to criticize the efficacy of the strategy’s payroll tax cuts.

But many small business owners across the country are praising the plan, saying that these exact incentives would allow them to immediately hire a number of workers they’ve been needing for months, if not years, but formerly had no way of subsidizing.…

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Published Tuesday, September 13, 2011 @ 10:16 am

In the years since the end of America’s recent Great Recession, there have been plenty of ups and downs in economic forecasts, fiscal prognostications, and financial facts and figures. But as mortgages rates rose forcing many into foreclosure, the personal health of those impacted went on the decline, as the real estate reckoning wrought a wave of depressed homeowners.…

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Published Thursday, September 8, 2011 @ 6:42 pm

A fascinating new article from The Associated Press reveals that the one of the toughest challenges facing unemployed Americans isn’t a job market currently stagnated at 9.1 percent unemployment rate, or even that 14 million unemployed are competing with each other in a country that posted no new jobs in August; rather the AP says the most challenging thing the unemployed are currently contending with is the underemployed.…

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Published Sunday, September 4, 2011 @ 5:05 pm

If you’re unemployed you have a ton to worry about.

Past due bills, mounting debts, going without health insurance, possible repossession of your car or foreclosure of your home, are just some of the not-so-pleasant thoughts plaguing the millions of average Americans facing extended joblessness.

Unfortunately, now there’s one more concern to add to the job market meltdown mix: a new report by the National Employment Law Project has found that employers are continuing to discriminate against unemployed people in their online job ads despite increased scrutiny surrounding the nation’s hiring practices.…

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Published Sunday, September 4, 2011 @ 1:02 pm

About a year ago, we reported that North Carolina was at the “top of the heap,” when it came to being home to one of the ten best cities to find jobs. Despite the fact that millions of struggling Americans were still working hard to find employment, economists were heartened about prospects for growth in 2012 as industries increasingly reported better profits and adding new jobs.…

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Published Sunday, September 4, 2011 @ 8:52 am

When you’re drowning in debt, and dodging your creditors, you may feel stuck—forced to eliminate your financial trappings as soon as possible and by any means necessary. But, in the process of dispensing with debt through the benefits of bankruptcy, it’s vital that you deal with that debt deliberately and follow certain rules pre-filing in order to assure that your financial future is as fruitful as possible.…

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Published Friday, September 2, 2011 @ 7:54 am

As we said in Part One of this series, a double-dip refers to a recession, followed by a short-lived recovery, followed by another recession. And there are plenty of signs that this second coming of an economic downturn has officially arrived in America, including the fact that our Gross Domestic Product has only expanded by 1.3%, while consumer spending is up a mere .1% in the second quarter of 2011.…

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Published Thursday, September 1, 2011 @ 5:54 pm

A double-dip recession refers to a recession, followed by a short-lived recovery, followed by another recession. And there are plenty of signs that this second coming of an economic downturn has officially arrived in America, including the fact that our Gross Domestic Product has only expanded by 1.3%, while consumer spending is up a mere .1% in the second quarter of 2011.…

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Published Tuesday, August 30, 2011 @ 6:43 pm

Historically low interest rates haven’t really reaped the kind of benefits they normally would in a post-recessionary period. In reality, economic growth has stagnated, the real estate market remains in the gutter, and consumer confidence has yet to recover to pre-recessionary levels.

But bargain-basement interest is also having unintended effects, including what the Associated Press called “killing savers”—like retirees and others who depend on interest income.…

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Published Tuesday, August 30, 2011 @ 7:52 am

Are you buying forecasts of an economic recovery? Don’t believe another global recession is possible? Just ask Michael Spence, professor at New York University’s Stern School of Business and winner of the 2001 Nobel Prize in economics. Recently, Professor Spence told Bloomberg Television Wednesday that there’s “probably a 50 percent” chance of the global economy slipping into recession.…

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Published Monday, August 29, 2011 @ 5:49 pm

As Hurricane Irene slammed into the East Coast, leaving in its wake wind-torn cities and towns, flooded roadways, and hundreds of thousands without power, the late-summer storm also took a lesser-reported economic toll on many geographic areas already devastated by the lingering financial crisis.

In fact, more than 400,000 homes as well as businesses lost power Saturday as Hurricane Irene hit the Carolinas with these significant losses most heavily concentrated in Wilmington and Wrightsville Beach, North Carolina, where Progress Energy reported well over 250,000 customers without power.…

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Published Monday, August 29, 2011 @ 4:51 pm

At a time when a full-fledged recovery remains a distant prospect for many average Americans and their beleaguered budgets, the outlook is also pretty grim for the overall American economy itself.

As millions of men and women flood unemployment lines awaiting word of jobs that may never return, and with few signs that the federal government nor the nation’s central bank will make any further efforts to stimulate our flagging financial state, according to government estimates released Friday, the United States economy grew at a slower pace this spring than even previously thought.…

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Published Monday, August 29, 2011 @ 3:49 pm

With the first major storm of the 2011 hurricane season now in the record books, it’s also worth remembering that a very rare east coast 5.8 magnitude earthquake, immediately preceded it. This unprecedented pairs of natural disasters over the past several days have forced many people up and down the East Coast thinking about earthquake and hurricane coverage.…

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Published Monday, August 15, 2011 @ 9:20 am

Some are calling a recent drop in consumer bankruptcies during the first half of 2011 a sure sign that the tides may finally be turning for the U.S. economy, as these new figures from the American Bankruptcy Institute Americans fuel the idea that American may be more financially stable in 2011 than they were at the same time last year.…

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Published Friday, August 12, 2011 @ 9:11 am

As active duty service members come home from wars winding down abroad in Iraq and Afghanistan, they are welcomed to friends, family and staggering unemployment. Now, tens of thousands of veterans are flooding the job market at a time when millions of civilians can’t even head back to work.

According to a new report from Reuters, unemployment among recent veterans grew to 13.3 percent in June, more than 4 percentage points higher than the national average.…

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Published Tuesday, August 9, 2011 @ 8:56 am

Are you buying forecasts that we’re in a slow-but-steady economic recovery?

Well some believe the economic recovery never actually happened.

Just ask Nobel Prize winning economist and New York Times columnist Paul Krugman. On the heels of the recent debt ceiling crisis, 600-point plunge in the Dow Jones industrial average and the drop in interest rates to near-record lows, Krugman warns that the United States economy was never truly ‘on the road to recovery.’

As Krugman writes in this week’s New York Times, “It’s not just that the threat of a double-dip recession has become very real.…

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Published Tuesday, August 9, 2011 @ 6:56 am

Three years back, Iceland’s entire financial system collapsed and despite being unable to bail itself out of its economic troubles on its own, the country is already recovering quickly and strongly.

As a result, there are valuable lessons anyone considering bankruptcy here at home (or even other countries) can learn from the this spate of Icelandic insolvency and what the Nordic nation ultimately did to solve it and emerge stronger than ever.…

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Published Monday, August 8, 2011 @ 6:11 pm

In this new “rough and tumble” economic era, 117,000 sounds like a lot.

$117,000 dollars. 117,000 shares of stock. 117,000 jobs?

Well, in all but one of those cases, you’d be right. In July, the American economy beat expectations by adding 117,000 new jobs to the current market and dropping the unemployment rate from 9.2 to 9.1%.…

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Published Tuesday, August 2, 2011 @ 10:54 am

No one needs to tell you times are tough and money is tight.

And all too often in this “new economy” (full of new financial realities), average Americans just like you—already suffering under the intense strain of rising mortgage costs, consistent credit card debt, mounting medical bills, employment woes, and other blights on your bank accounts—are also in the market for more ways to trim shrinking household budgets.…

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Published Tuesday, July 26, 2011 @ 1:11 pm

Just when the financial experts said it was safe to call the economy “in recovery,” Treasury Secretary Timothy Geithner says many Americans will face hard times for a long time to come.

Geithner reemphasized in an episode of “Meet the Press” that we remain in the midst of a very tough economy in which, for a lot of people, “it’s going to feel very hard, harder than anything they’ve experienced in their lifetime now, for a long time to come.” He also revealed that he believed  President Barack Obama has rescued the United States from a second Great Depression and will continue the hard work of trying to strengthen the economy.  Unfortunately, Geithner also predicted that it would be some time before many people actually feel like the country is recovering.…

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Published Monday, July 25, 2011 @ 11:28 am

Local Businessman Files for Chapter 11 Bankruptcy (And You Can Too)

A North Carolina businessman recently filed sought the safe havens of a Chapter 11 bankruptcy after being hit with two civil complaints in the past year, based on a recent story by the Johnston County’s The Herald. According to the paper, “The Dueas filed for bankruptcy protection on April 29 – about two weeks after a Smithfield cardiologist sued Jody Duea.…

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Published Wednesday, July 20, 2011 @ 11:50 am

In these rough and tumble economic times, cheery financial news can be hard to come by, even amid the economic recovery itself. This remains true at the midway point of 2011—a full two years following the official end of the economic recession—as a major indicator of the strength of the America’s economic machine is showing that we’re still in the throes of an economic downturn, at least for consumers.…

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Published Friday, July 15, 2011 @ 11:14 am

According to last week’s Federal Reserve report, U.S. consumer credit rose by another $5.08 billion in May–a figure that suggested a willingness for millions to keep borrowing despite an exceptionally tight job market.

In a recap of these new figures by Reuters, the news agency said, “The May rise, coming after a revised $5.67 billion increase in April, handily topped forecasts by Wall Street economists for a $4 billion increase and marked the eighth straight month of growth in consumer credit.…

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Published Friday, July 15, 2011 @ 5:13 am

Everything old is new again with news that private investment firms are now lending to subprime borrowers again.

In fact, based on a Wall Street Journal report, subprime borrowers—home buyers whose credit scores do not meet the standards of banks—who had been largely shut out of the lending market in the years since the financial crisis, are now finding a much more liberal environment for getting a home loan.…

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Published Tuesday, July 12, 2011 @ 1:11 pm

It’s been two years since experts signaled the end of our recent Great Recession. But based on the most recent job report, it seems like only yesterday. In fact, according to last week’s surprisingly dismal government labor figures for June, a true recovery from the economic downturn of the late 2000s could be a long way off indeed.…

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Published Monday, July 4, 2011 @ 3:11 pm

Despite the continuing economic malaise, American spending habits appear to be alive and well, overleveraging already beleaguered budgets hit hard by the housing crisis, high unemployment and rising unsecured debt loads. In fact, despite lessons learned from the recent recession, Americans continue to spend about 15% of their household incomes on luxury items defined by “wants” instead of “needs.”

So where (and on what) are we wasting our money this time?…

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Published Saturday, July 2, 2011 @ 11:34 am

Recent gains for marriage equality in states like Iowa and New Hampshire have been met by a lot of legal questions for those who are actually considering marriage with their gay and lesbian partner. Confusing differences in relationship recognition amongst state and federal laws can create true legal challenges for same-sex couples throughout the country.…

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Published Saturday, July 2, 2011 @ 9:32 am

While a majority of economists and other financial experts firmly believe we are experiencing a modest economic recovery, a new poll reveals that a large, vocal minority of Americans feel that the economy will never fully recover from the effects of the recent “Great Recession.”

A New York Times/CBS News poll found that 39 percent of people responding believe “the current economic downturn is part of a long-term permanent decline and the economy will never fully recover.” The survey is one of many revealing overall distress with the current state of the American economic picture.…

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Published Sunday, June 26, 2011 @ 10:08 am

In these tough economic times, some households have had to put basic needs above plans for higher education, turning to personal savings and college funds to fight off foreclosure, meet mounting medical costs, and in some cases, even keep the lights on and food in the fridge. In the wake of the recent Recession, many commentators have begun to question the cost-benefit of analysis of spending for higher education versus the realities of the jobs (and salaries) earned as a result.…

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Published Tuesday, June 21, 2011 @ 9:21 am

As we’re all aware, this decade’s Great Recession has dealt, and continues to deal, a significant blow to the budgets of many American families, leaving millions in debt, underwater in their mortgages, and looking for any means necessary to get back on a financially-healthy course.

Now, tax time is yielding another short-term problems for some cash-strapped citizens.…

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Published Sunday, June 19, 2011 @ 11:37 am

In these rough and tumble economic times, some households have been forced to put low-level, basic needs above long-term plans for higher education, turning to personal savings and what they previously considered to be college funds to fight off home foreclosure, meet mounting medical costs, and in some cases, even keep the lights on and food in the fridge.…

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Published Saturday, June 18, 2011 @ 8:21 am

It’s no secret that a big reason for our country’s lingering financial malaise is the real estate market’s seemingly unending mortgage crisis—forcing many Americans out of house and home while also contributing to a bleak economic environment for home purchases, investment and spending.

But along with the knowledge that the mortgage servicing industry foreclosed on more than one million homes last year and is on track to do better in 2011, comes more bad news for the beleaguered economy: high unemployment is now further dragging down the housing market and subsequent prospects for our country’s economic recovery.…

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Published Saturday, June 18, 2011 @ 7:47 am

These summer months are shaping up (again) to be tough times for recent college graduates. This latest round of job seekers continues to face high unemployment and mounting debt. So what happens when these poor economic conditions coincide with payment deadlines for sometimes astronomical educational loans? One word: defaults. In the end, this feeling of financial helplessness leaves many recent grads reeling, and rightfully so, in an economic climate may mean they will never be as successful or financially secure as their parents.…

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Published Friday, June 17, 2011 @ 7:50 am

Summer is typically the time when gas prices jump, making seasonal vacations, travel and even the daily commute a bit more challenging as temps heat up. But political unrest in the Middle East fueling global insecurity about oil availability, means normally high gas prices could go even higher, leaving even less money for basic needs (and many families squeezed) during these hazy days of summer.…

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Published Thursday, June 16, 2011 @ 6:43 am

When the Rolling Stones sang “I Can’t Get No (Satisfaction),” or comedian Rodney Dangerfield spoke of getting, “No Respect,” they could have just as easily been speaking about today’s labor market, full of employees, in some cases, just happy to be employed, but far from content with where they are and what they’re doing.…

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Published Wednesday, June 15, 2011 @ 4:33 pm

As temperatures heat up all across the country this season, so too are concerns about inflation, with rock bottom housing prices, and a weak labor market, adding fuel to the summertime fire. The result? Tanking consumer confidence in May, at least according to a private sector report released this week, and fears of something more economically-sinister a’ brewin.’

Based on a Reuters reading of the new economic data, “The Conference Board, an industry group, said its index of consumer attitudes fell to 60.8 from a revised 66.0 in April.…

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Published Wednesday, June 15, 2011 @ 2:36 pm

While many Americans learned a harsh lesson during the economic recession—turning away from reckless spending in an attempt to increase much-needed savings and avoid high-interest consumer debts—auto lenders still did well during the downturn, as demand for cars remained high and auto loans became one of the very few types of consumer debts that grew even as consumer confidence dwindled.…

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Published Tuesday, June 14, 2011 @ 1:28 pm

Two years after experts found the recession to have ended, real estate prices continue to fall in major cities all across the country according to a new report—in some cases to their lowest level since the housing bubble burst in 2006—signifying a true recovery has yet to materialize in the beleaguered housing market.…

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Published Tuesday, June 14, 2011 @ 8:26 am

From Joplin, Missouri, to Tuscaloosa, Alabama, to Raleigh, North Carolina, and everywhere in between, we’ve all seen our fair share of devastating storms, winds, flooding and tornados this season–whether they be on television or impacting in our own backyards.  But amid the reports of destroyed homes and rising death tolls comes another, less well-known casualty of these now-ubiquitous natural disasters: massive job losses.…

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Published Monday, June 13, 2011 @ 11:03 am

You may have heard the phrase “debt ceiling” being bandied about in the media recently. But few people outside of Washington D.C.’s Beltway, and in the current Congressional fight over raising it, truly understand what the term has to do with the proverbial “price of beans.” But financial experts warn that this unending political battle over how the country handles our national debt limit, could have lasting effects on average American pocketbooks.…

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Published Sunday, June 12, 2011 @ 3:57 pm

While many financial experts are reporting that the economy is getting healthier by the day, more data is emerging that average Americans are still avoiding seeking healthcare amid fears that bearing more medical costs would break already beleaguered household budgets.

According to a new report from Reuters, this means poor health utilization from many following the extended economic downturn, and more profits for health insurers who are forced to pay less out for services, even as the insured are asked to pay more into the industry.…

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Published Sunday, June 12, 2011 @ 2:33 pm

Think high unemployment concerns have passed? Well, according to the Labor Department, these concerns are just as pressing as ever, with a paltry number of jobs added in May to keep up with the growing demand of an expanding labor force.

As Reuters is reporting, “Employment rose far less than expected in May to record its weakest reading since September, while the jobless rate rose to 9.1 percent as high energy prices and the effects of Japan’s earthquake bogged down the economy.…

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Published Sunday, June 12, 2011 @ 1:57 pm

Are You Prepared for an American Recession Turned Great Depression?

Just as many Americans had begun to believe the worst of the economic downturn had passed, some experts are saying that the nation’s reemerging job woes are signs of something more sinister afoot: a potential Great Depression.

So what could cause America’s Recession to turn into a Great Depression?…

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Published Saturday, June 11, 2011 @ 5:50 pm

Unrest in the Middle East has pushed gas prices sky high for the rest of us in recent months, with average American households, just beginning to recover from the recent economic recession, scrambling to fill their tanks with petrol pushing $3.60 (and higher) per gallon.

So, apart from adjusting tire pressure, turning off the AC and/or driving slower, you might be wondering how to reduce the financial pain you’re likely experiencing at the pump.…

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Published Sunday, May 29, 2011 @ 8:24 am

We talk a lot about the impact of the recent economic downturn on seniors: how hard is to retire, or even remain employed, as debt rises and dreams of post-career, golden years spent without worry fade as quickly as home prices.

But what about the millions of Americans who have yet to embark on careers, now facing a rude awakening that the jobs that used to pad their wallets and prepare them for college and the workforce, are now disappearing or filled by fellow workers twice their age?…

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Published Friday, May 27, 2011 @ 8:36 pm

We know what you’re thinking.

Another stressful tax season has officially come and gone, and you’re either expecting a well-deserved refund or you owe an obligatory amount to the Internal Revenue Service.

Regardless, we understand you’d rather not think about (or, at least read about) anything regarding taxes, tax time, or the financial implications of this taxing period.…

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Published Friday, May 27, 2011 @ 12:45 pm

After years of being mired in an economic malaise driven by the foreclosure mess, rising consumer debts, and mounting medical costs, you’d think it would finally be about time for a good old financial reprieve for American families.

Unfortunately, new figures reveal the real financial challenges—even post-recession—that are currently jeopardizing a U.S.…

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Published Thursday, May 26, 2011 @ 5:40 pm

We’ve written about many celebrity bankruptcies in the past several years. But few are more interesting than the bankruptcy of Charlie Batch.

According to the story in the Pittsburgh Tribune-Review, Pittsburgh Steelers backup QB Charlie Batch filed for bankruptcy protection in December 2010, after his real estate venture defaulted on a $1.15M mortgage with Dollar Bank.…

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Published Wednesday, May 25, 2011 @ 5:50 am

Arts and cultural organizations are not immune to the economic impacts of the recent Great Recession. Falling attendance and rising costs of real estate, overhead and administration marked the decline of many museums, galleries and theatrical venues in recent years.

This same scenario appeared to be problem for the Philadelphia Orchestra, long considered one of the best in the country.…

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Published Tuesday, May 24, 2011 @ 5:49 pm

While many are led to believe that filing for bankruptcy can kill your credit score, it turns out missing a single mortgage payment—a common symptom of recent economic malaise—may be just as deadly to your credit’s near future.

According to a recent article from The New York Times, “Missed mortgage payments, serious loan delinquencies, loan modifications, short sales, foreclosures and bankruptcies all drag down credit scores.…

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Published Tuesday, May 24, 2011 @ 3:48 pm

For those of you who live in North Carolina, does this story sound familiar?

Charlotte’s John Allison, 37, told HuffPost the [political] stalemate [over jobless benefits] reminds him of a game of chicken, except “the person controlling the car’s not even in it.” “It’s a remote control game of chicken and I’m tied in the seat,” he said.…

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Published Friday, May 20, 2011 @ 6:41 am

Yes, the American employment picture is getting better. The latest numbers show that the U.S. added nearly 250,000 jobs in April 2011, making it the 14^th consecutive month of job market gains. But economists aren’t as optimistic, pointing to a lack of job diversity and higher income positions as signs things are far from back to “business as usual.”

According to a new article from The Huffington Post, “ In April, the U.S.…

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Published Monday, May 16, 2011 @ 1:44 pm

While the country’s overall unemployment rate sits at 8.8 percent, the rate among white Americans is at 7.9 percent. Yet, for a host of reasons ranging from disparate levels of education to outright discrimination, national joblessness is nearly double for African Americans—even during a tepid, but true, economic recovery.

As The Huffington Post points out, joblessness has remained so critically elevated in the decade leading up to the Great Recession, that African Americans like Charlotte, North Carolina’s own Wanda Nolan witnessed a bright future quickly dimmed by an unrelenting  economic downturn:

“From an entry-level job as a fill-in bank teller, she forged a career as a commercial banking assistant, earning enough to become a homeowner.…

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Published Monday, May 16, 2011 @ 10:43 am

Sure hiring is up in many sectors, unemployment rates are dropping and the economy appears to be on the mend, but for many older Americans over the age of 55, who are currently out of work, prospects are poor for ever returning to the workforce as quickly as before the Recession.…

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Published Wednesday, May 4, 2011 @ 4:27 am

After political unrest in the Middle East fueled global insecurity about oil availability, Americans shuttered (and sputtered) as gas prices rose above $3.70 per gallon. Now, experts are saying that we’re in for another “crude awakening” as the price of oil is poised to push $100 a barrel after a global economic rebound sent it surging 34 percent in the past year.  This surge could send fuel prices soaring to $4 a gallon by summer in some parts of the country.…

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Published Tuesday, May 3, 2011 @ 4:23 am

Just as Baby Boomers shaped the counter culture of the 1960s, this storied generation of robust lifestyles, risk-taking rebellions, and Rock-n-Roll significance is ready to yet again make its mark on America—this time, in their mid 60s. Today, Boomers now represent one-third of the total population of North America, with their highly populated presence standing as a testament to the hard lessons learned from the new economy: poor financial planning converging with uncertain economic circumstances at a vulnerable age in a working life, can have a apocalyptic impact on our nation’s more plentiful citizenry.…

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Published Wednesday, April 20, 2011 @ 4:24 am

In April, the world celebrated the 41^st anniversary of Earth Day with global conservation efforts of all sorts culminating in A Billion Acts of Green®. But in these tough economic times, one of the toughest things to conserve just happens to be green: money. Fortunately, there are a slew of ways to save some cash while you’re also saving the environment.…

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Published Sunday, April 10, 2011 @ 3:45 pm

Not that long ago, green industries like ethanol producers were on par to make a ton of greenbacks, capitalizing on the needs of a public clamoring for cleaner and less costly alternatives to fossil fuels and rising gasoline prizes. But fast forward to 2011, a time when corn prices have more than doubled while ethanol prices refused to keep pace proportionally with these rises in corn prices.…

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Published Sunday, April 10, 2011 @ 12:44 pm

Recent gains for marriage equality in states like Iowa and New Hampshire have been met by a lot of legal questions for those who are actually considering marriage with their gay and lesbian partner. Similarly, recently proposed legislation that would prohibit marriage between gay and lesbian couples in North Carolina is shedding a new spotlight on the confusing differences in relationship recognition in state and federal laws and the true legal challenges facing these couples throughout the Tar Heel State and entire country.…

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Published Monday, April 4, 2011 @ 5:37 pm

In 2010, the President Obama reworked his $75 billion foreclosure prevention plan. The second incarnation of the Home Affordable Modification Program (or HAMP) added new incentives to help those hardest hit by the housing crisis, targeting homeowners who were unemployed or underwater in their mortgages (i.e., folks owing more on their loans than their homes were worth).…

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Published Wednesday, March 30, 2011 @ 7:12 am

It may seem strange, the whole prospect of turning a timely tax return into a bankruptcy, but in a nation currently dealing with a healthy debt load, the whole idea that half of Americans get some form or return, comes at a good time for those looking to pay down those debts, or, better yet, find a longer-term solution for their cash-strapped situation.…

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Published Tuesday, March 29, 2011 @ 11:09 am

In tough financial times, sometimes it’s hard to see the forest for the trees. But as another global conflict unfolds in the Middle East, and with the United States very much involved, it’s important to understand another war’s potential impact on the national economy, local layoffs and your individual financial future.…

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Published Saturday, March 26, 2011 @ 1:00 pm

In the wake of the lingering real estate reckoning, skyrocketing foreclosure rates, and high unemployment and underemployment, folks all across the U.S. had a lot to complain about in 2010. But last year’s well publicized economic troubles were matched by less-reported consumer outrage at a range of financial and privacy concerns sweeping the nation.…

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Published Saturday, March 26, 2011 @ 11:00 am

For jobless Americans—forced from their careers during an era of economic uncertainty (and in an environment of staggering unemployment rates)—the lingering financial malaise has proven to be more than just a little bit hazardous to their health.

As it turns out, nine million laid-off Americans lost all health insurance in last two years.…

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Published Monday, March 21, 2011 @ 1:16 pm

After suffering through years of an economic downturn driven by a mortgage crisis, rising consumer debts, and mounting medical expenses, of late many average Americans are increasingly hungry for the country to rebound financially. Unfortunately, at the same time, a confluence of events is prompting a resurgence of literal hunger in the U.S.…

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Published Monday, March 21, 2011 @ 9:16 am

The U.S. has always been a nation of givers. Despite the recession and high unemployment, approximately 80% of Americans continued to give to religious and/or secular charities.

That trend has continued in earnest following the recent earthquake catastrophe in Japan.

According to a Chronicle of Philanthropy report, as of March 14, 2011, $24 million in donations has already rolled in to charitable organizations like The American Red Cross, Salvation Army, Save the Children, and more.  But while American hearts appear in the right place during this trying time for the Japanese, according to the Better Business Bureau (BBB), so are the con artists and scammers, all working hard to part you with your donation during this and any other global natural disaster.…

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Published Friday, March 18, 2011 @ 6:08 am

To commemorate the Federal Trade Commission’s annual National Consumer Protection Week (March 6 – 12, 2011), the FTC is providing a budget-load of handy-dandy information designed to protect your money, your credit, and your overall post-recessionary financial future. So whether you’re rebuilding your economic life post-bankruptcy, or simply trying to speed up your savings, the NCPW blog can yield a wealth of resources exactly at a time when average Americans need a financial infusion, including information about:

• Avoiding foreclosure rescue and other mortgage-related scams;
• Knowing how to spot employment opportunity scams;
• Making the most of your money in the early stages of your career;
• Building and maintaining a budget to improve financial stability;
• Avoiding time-share and credit-card scams offered via text messages; and
• Learning what steps to take to save your home from foreclosure.

…

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Published Thursday, March 17, 2011 @ 2:06 pm

The Best of National Consumer Protection Week: Part Five: Avoiding International Scams

To commemorate the Federal Trade Commission’s annual National Consumer Protection Week (March 6 – 12, 2011), the FTC is providing a budget-load of handy-dandy information designed to protect your money, your credit, and your overall post-recessionary financial future. So whether you’re rebuilding your economic life post-bankruptcy, or simply trying to speed up your savings, the NCPW blog can yield a wealth of resources exactly at a time when average Americans need a financial infusion, including information about:

• Avoiding foreclosure rescue and other mortgage-related scams;
• Knowing how to spot employment opportunity scams;
• Making the most of your money in the early stages of your career;
• Building and maintaining a budget to improve financial stability;
• Avoiding time-share and credit-card scams offered via text messages; and
• Learning what steps to take to save your home from foreclosure.

…

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Published Thursday, March 17, 2011 @ 6:00 am

To commemorate the Federal Trade Commission’s annual National Consumer Protection Week (March 6 – 12, 2011), the FTC is providing a budget-load of handy-dandy information designed to protect your money, your credit, and your overall post-recessionary financial future. So whether you’re rebuilding your economic life post-bankruptcy, or simply trying to speed up your savings, the NCPW blog can yield a wealth of resources exactly at a time when average Americans need a financial infusion, including information about:

• Avoiding foreclosure rescue and other mortgage-related scams;
• Knowing how to spot employment opportunity scams;
• Making the most of your money in the early stages of your career;
• Building and maintaining a budget to improve financial stability;
• Avoiding time-share and credit-card scams offered via text messages; and
• Learning what steps to take to save your home from foreclosure.

…

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Published Wednesday, March 16, 2011 @ 5:58 am

To commemorate the Federal Trade Commission’s annual National Consumer Protection Week (March 6 – 12, 2011), the FTC is providing a budget-load of handy-dandy information designed to protect your money, your credit, and your overall post-recessionary financial future. So whether you’re rebuilding your economic life post-bankruptcy, or simply trying to speed up your savings, the NCPW blog can yield a wealth of resources exactly at a time when average Americans need a financial infusion, including information about:

• Avoiding foreclosure rescue and other mortgage-related scams;
• Knowing how to spot employment opportunity scams;
• Making the most of your money in the early stages of your career;
• Building and maintaining a budget to improve financial stability;
• Avoiding time-share and credit-card scams offered via text messages; and
• Learning what steps to take to save your home from foreclosure.

…

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Published Tuesday, March 15, 2011 @ 12:37 pm

With the resurgence of the nation’s rabid appetite for news and information, the emergence of online shopping, and the advent of e-readers, with their promise of any book, any time, anywhere, as well as cheaper pricing, shoppers are now abandoning bookstores like Borders and Barnes & Nobles as they did music stores more than 10 years ago.…

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Published Tuesday, March 15, 2011 @ 9:03 am

With its many Armed Forces outposts, bases and camps, North Carolina is among a select group of states that are home to a storied U.S. military tradition as well as large military and veteran populations. As such, citizens of North Carolina and other states are often familiar not only with the duties and honorable service of these military men and women, but are also aware of the many laws passed to give veterans preferred status as a token for their former and continuing sacrifice.…

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Published Tuesday, March 15, 2011 @ 6:55 am

To commemorate the Federal Trade Commission’s annual National Consumer Protection Week (March 6 – 12, 2011), the FTC is providing a budget-load of handy-dandy information designed to protect your money, your credit, and your overall post-recessionary financial future. So whether you’re rebuilding your economic life post-bankruptcy, or simply trying to speed up your savings, the NCPW blog can yield a wealth of resources exactly at a time when average Americans need a financial infusion, including information about:

• Avoiding foreclosure rescue and other mortgage-related scams;
• Knowing how to spot employment opportunity scams;
• Making the most of your money in the early stages of your career;
• Building and maintaining a budget to improve financial stability;
• Avoiding time-share and credit-card scams offered via text messages; and
• Learning what steps to take to save your home from foreclosure.

…

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Published Saturday, March 12, 2011 @ 7:00 am

The tumultuous political climate in the Middle East has pushed domestic gas prices sky high in recent weeks, with average American households, just beginning to recover from the recent economic collapse, scrambling to fill their tanks with petrol pushing (on average) $3.50 per gallon.

And according to The Huffington Post, the problems at the pump may just be beginning.…

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Published Friday, March 11, 2011 @ 10:51 am

Continuing unrest in major oil-producing pockets of the Middle East—including recent changes in Egypt’s leadership and the current chaos in Libya—is adding fuel to the rumors that rising gas prices could take us into another economic downturn.

Yes, you read that correctly.

According to a new report from The Huffington Post, “Yet another group of analysts have issued grim warnings about the recent run-up in oil prices.…

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