Manufacturing wages in North Carolina decreased 6.6 percent in the last eight months. This factor alone may not cause the number of North Carolina bankruptcy filings to increase during the same period. However, put lower wages with sub-prime, adjustable rate mortgages coming due and one might expect residents to file more North Carolina bankruptcy cases as a result of the financial burdens.
North Carolina bankruptcy cases actually did increase in every district during the quarter ending June 30, 2006 compared to the previous quarter. If wages stay the same or continue to drop, we can expect consumers to continue to turn to bankruptcy as a means to deal with their financial situations.
This entry was posted on Wednesday, October 25th, 2006 at 3:24 pm and is filed under Bankruptcy News and Events. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.