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Bankruptcies On The Decline In Ohio For 7th Straight Year
By: Associated Press
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AKRON, Ohio (AP) – Following a national trend, bankruptcy filings have declined in Ohio for the seventh consecutive year after falling nearly 10 percent statewide in 2016.
The Akron Beacon Journal reports the Administrative Office of the U.S. Courts reported this week that there were a total of 35,903 bankruptcy filings in Ohio last year compared to 39,765 in 2015.
National bankruptcy figures for 2016 represent a 5.9 percent decline from the previous year.
Akron bankruptcy attorney Marc Gertz says the Buckeye state is clearly at a “low ebb” in bankruptcy cases. But the Chapter 7 panel trustee is not sure the number of filings will get much lower than it already is.
Personal bankruptcies typically stem from issues such as job loss, divorce, foreclosure and medical bills.