Friday, Jul 01, 2016
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Economy

Area bankruptcy cases fall 82% in September

U.S. Bankruptcy Court in Toledo reported yesterday that 385 cases were filed in September, a drop of 82 percent from the 2,205 filings for the same month a year ago.

For the first nine months of the year 2,739 cases were filed, a 76 percent decrease from the 11,216 cases in the 21-county northwest Ohio area for the same period in 2005. Chapter 7 personal bankruptcies and Chapter 13 repayment plans decreased significantly from last year because of bankruptcy-law reforms.

However, Toledo court officials noted that 10 Chapter 11 reorganization cases were filed in September, twice the number of a year ago.

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