The North Carolina Bankruptcy Information Blog

Months after a number of debated stimulus efforts on the part of our federal government to help bolster an ever-weakening economy, Chairman of the Federal Reserve Ben Bernanke is bringing to light yet another move designed to try it again. Given the mood of the people and their recent display of frustration at the polls, it’s not very likely that Bernanke’s message will reach accepting ears.

It’s an odd time for our country. People are financially hurting. Our bankruptcy law offices have been quite busy helping many in the Triangle area file and deal with personal bankruptcies, the reasons for which are as varied as the people themselves.…

As you know by now, this country’s recent 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, perpetually jobless and looking for any means necessary to get back on a financially-healthy track.

However, there may be a silver fiscal lining to this year’s spring season: The Recovery Act’s tax credits. Now we’re seeing that tax time—normally considered a harrowing economic experience for many Americans—is yielding it a bit of a reprieve for some cash-strapped citizens struggling to stay afloat amid rising education costs, mortgages, and even car payments.…

Very few people set out to open a credit card account intent on not paying off the balance.  Those who do are assumed to be criminals, usually identity thieves or some other sort of con artist.

Credit card debt, and all other forms of long term financial drain that lead good people into the need to file bankruptcy, is very often caused by a setback of some kind, like illness or job loss.  And if recent unemployment predictions are on track, we can expect the bankruptcy rate to continue to climb.

The News & Observer published an Associated Press report about the impact job losses are having across the country.…