The North Carolina Bankruptcy Information Blog

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. as well as many other corners of the world-at-large.

According to the United States Department of Agriculture, for the third straight year, Hunger Action Month has had to contend with a 1 in 6 hunger rate, the highest percentage since the federal agency began monitoring national hunger in 1995.…

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. In the process of shutting off the lights, the storm generated winds in excess of 80 mph, leaving much of North Carolina’s coast unable to open restaurants, extend hotel hospitalities, and finish out the all-important fishing season.…

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.

According to a new report from The Huffington Post, “For every $10 the typical household earns before taxes, almost a full dollar now goes toward gas, a 40 percent bigger bite than normal. Households spent an average of $369 on gas last month.…

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. Well, the obvious answer is to drive less; but with many people heading back to work or still searching, cutting back on travel is just not an option.…

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. family’s most basic needs and forcing many to make a decision between food and shelter.

According to a recent report, approximately 10 million American households— representing one in every four families that rent their homes—could have to choose between paying rent, buying groceries or staying current with bills. As The Huffington Post reported, “The number of households spending more than 50 percent of their income on rent and bills jumped by 2.6 million over the last decade, according to a Harvard Joint Center for Housing Studies report.…

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.

These increases will mean airfare, shipping, and food costs (not to mention commuting) will all become more expensive endeavors in the coming months.…

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. as well as many other corners of the world-at-large.

According to a recent report from The World Bank, global food prices are on the rise.  Between October 2010 and January 2011, the Bank’s food price index rose by 15 percent, as global prices of wheat, maize, sugar and edible oils increased sharply.…

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. “Violence in Libya shows no signs of slowing, and that’s causing oil prices to continue their steady climb, at one point hitting $118 per barrel on Monday. The situation has become so dire that Barack Obama is considering tapping U.S. oil reserves and Morgan Stanley have announced they will temporarily halt all oil trade with Libya.…

As someone facing serious financial difficulty, learning how much money is made by the huge banks to which you owe money can be frustrating. While we understand that we need to be accountable for our decisions, it stings to realize that profit models are often based on customers going into debt. Therefore, we can’t help but a feel a bit had, like the rube who just bought a cure-all tonic from the traveling pitchman selling from a horse and buggy.

CNN.com published an article recently that described what it deemed the “biggest rip-offs” in today’s society. We thought it relevant because knowing how some of these products are sold may encourage you to quit buying, using or subscribing to them and in the process, start saving more money to pay down debt or keep rebuilding after bankruptcy.…