NC churches also dealing with bankruptcy problems
RALEIGH, N.C. — Churches are not immune to the bankruptcy problems facing many in North Carolina as the economic downturn continues.
The News & Observer of Raleigh reported Thursday that Trinity Faith Full Gospel Church in Wendell is seeking Chapter 11 bankruptcy protection because it has been unable to pay the $1.1
million it owes for its sanctuary.
The independent church was founded 12 years ago with 20 members. It completed a 14,000-square foot sanctuary in 2001. It has 125 members now, but they can’t afford the $12,000 monthly payments.
The newspaper reported that at least seven religious institutions have filed for bankruptcy in the Eastern District of North Carolina since 2006. There had been a total of five in the
previous six years.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
Churches are not immune to the bankruptcy problems facing many in North Carolina as the economic downturn continues.
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