Tuesday, Jun 28, 2016
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Economy

Toledo-area bankruptcies rise, but at a slower pace

The number of bankruptcy filings continued to climb last month although at a dramatically slower pace as northwest Ohio s moribund economy continued to wreak havoc on personal and business finances.

Filings rose 2 percent in May from a year ago to 592 cases, a decline from April when 713 cases were filed, according to the U.S. Bankruptcy Court in Toledo, which covers 21 northwest Ohio counties.

For the year to day, the filing to erase debts under Chapter 7 climbed 24 percent over the previous year to 2,353 cases, while the number of wage-earner repayment plans under Chapter 13 rose 10 percent to 466 cases.

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