The North Carolina Bankruptcy Information Blog

While those that analyze esoteric financial trends and market conditions seem to think that the recession is easing, a large portion of the country aren’t so quick to agree. With foreclosures still prevalent and personal bankruptcies at a level close to that of 2005’s pre-code change flood, there are plenty of reasons for Americans to still be on edge about their finances.

A recent survey by the Associated Press and its polling partner Gfk indicated that 46 percent of families are still not confident in the status of their economic situation.

The sense of financial stability in the country can be compared to the local weather forecast.…

Well, it’s the holidays, so it’s time have some fun and hopefully, forget about all those pesky financial problems. They say humor is the best medicine, so we searched around and came up with a few great jokes about, well, what else? Money! Enjoy …

At the annual Christmas gathering, all the kids were at the feet of their wealthy old great granddad, who was settled in his chair entertaining them with classic yarns about days gone by and memorable life adventures. One of the kids asked him, “Pappy, how did you make all of your money?”

“Well, son,” he said while stuffing his pipe with fragrant cinnamon tobacco.…

Most people who have filed for bankruptcy understand the feelings of angst and dread that accompany the weeks and months before you make the decision to file.

Eventually, the walk to the mailbox becomes an exercise in personal bravery and the sound of the phone is like a bomb going off inside your psyche, sending shards of guilt-shrapnel into your chest. It can be a painful, daily challenge that can wreak as much physical damage as mental.

The feelings caused by severe debt, generate stress hormones in your body, similar to the “fight or flight response.” (Which is why you often become so angry at collection agents.) As the stress accumulates, it can actually cause damage to the heart, immune system, your memory and digestive tract.…

Stomach turns? Sleepless nights? Ah, the memories of your time before filing bankruptcy. Not much fun, were they?

Despite all the things that your robust credit limits may have provided you (it’s okay to admit it), somehow you would have given it all back to stop the phone from ringing and guilt from weighing you down. And while that is what bankruptcy did for you, the numbers show that a number of people often have to file a second time. Don’t do that to yourself.

To pull yourself away from the lifestyle habits that contributed to your first go-around with Chapter 7, start a new life by determining what is most important to you.…

The news sure sounds exciting, especially for those rebuilding after a bankruptcy or perhaps teetering on its edge. Economic statisticians, those in colorful bold boxes on morning stock report shows and even the country’s newspapers, long considered a haven for everything depressing, are reporting that the worst of the recession is over. Many are going so far as to say that we’re on our way up again.

Honestly, the numbers don’t lie. But they don’t tell the whole truth, either.

The last couple of months have seen the fewest number of jobs shed, according to those in Washington. National savings rates are holding steady and business productivity has climbed to its highest level in six years.…

You know it and we know it: There’s a lot of stigma behind the word bankruptcy. We’re here to tell you: If you’re considering bankruptcy, there is nothing to be ashamed of and don’t let anyone tell you differently. Bankruptcy has helped millions of families and businesses emerge stronger, especially in tough economic times.

The federal bankruptcy code has long been a carefully negotiated, well-thought out safety net to catch the financial pratfalls so many Americans take on occasion. It’s an outstanding testament to the state of cooperation, foresight and spirit of assistance that characterizes our country. Despite the pervasive stigmas, there is very little collective impact to the nation’s economic well-being as a result of individual bankruptcy filings outside of a number of Americans becoming once again financially stable and viable contributors to society.…

After living with the stress of debt for a while, it’s very possible to become accustomed to it. Maybe you think that financially, things are just always going to be that way. “I’ll owe more than I make and somehow, I’ll just manage to get by every month.” Serious debt is an emotionally trying and socially problematic complication of life and unfortunately, almost like an illness, many of us learn to accept the pain and find a way to live.

But it simply doesn’t have to be that way.

Living with the sleepless nights and monthly frustrations of just scraping by is not your lot in life.…