Ohio is Not Alone: Bankruptcies Continue to Rise Across the Nation
Ohio is not the only state experiencing a significant rise in the volume of bankruptcy filings in 2008. According to statistics recently released by the Administrative Office of the U.S. Courts, there were 967,831 bankruptcy cases filed during the twelve-month period ending June 30, 2008. This is a 28.9 percent increase over the prior twelve months. Filings in the Northern District of Ohio (which includes Akron, Canton, Cleveland, Toledo and Youngstown) rose 18.3 percent over the same twelve-month reporting period, with filings rising from 24,577 during the last period to 29,066 during the current period. Given the continuation of the housing crisis, high unemployment and the uncertainty facing the auto industry in our neighboring State of Michigan (which will also impact Ohio due to the many automotive manufacturing jobs here), it is likely this number will continue to climb for the foreseeable future. If you are one of the many that need help and think you might benefit from a fresh start through bankruptcy, you should contact an attorney to discuss your options.
