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.

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