Cleveland, Akron and Youngstown Bankruptcy Filings on the Rise
If you live in Cleveland, Akron or Youngstown and find yourself considering bankruptcy, then you are certainly not alone. Bankruptcy filings in Northeast Ohio are on the rise and at their highest level since the surge just before the new BACPA law went into effect in October of 2005. 
National Public Radio, WCPN 90.3 FM, reported that filings in the first six months of 2008 were nearly three times as high as the same period in 2007. Filings in Cleveland were the highest, followed by Akron and then Youngstown.
There are many reasons for this. For one, many homeowners are finding that they can no longer tap into the equity in their homes or, worse yet, their home is worth less than they owe on their mortgage. The job market in Ohio is also bleak and many companies are reducing employee hours and overtime to cut costs in the poor economy. Gas and food prices have also been rising steadily. Now the recent stock market collapse has made matters worse and threatens the retirement and financial security of many Ohio families.
If, like many in Ohio, you are struggling in these hard times, then bankruptcy may help you get back on track. Click here to learn how bankruptcy might help you.
