Saturday, Jul 30, 2016
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Economy

Toledo bankruptcies tumble 29% in September

Case filings in U.S. Bankruptcy Court in Toledo totaled 401 in September, a 29 percent decrease from the previous month and the seventh straight month filings have declined.

Including the September totals, filings have declined 24 out of the last 25 months.

Last month's case total was the lowest for September since 2006. For the year, the overall number of cases filed in the Toledo court, which covers 21 counties in northwest Ohio, stands at 4,452, a decline of 16 percent over the same period last year.

Through September, Chapter 7 liquidation cases total 4,043, a decrease of 15 percent from a year ago. Chapter 13 repayment plan cases are also down, totaling 396 filings for a decrease of 27 percent. Even Chapter 11 reorganization cases, which are used for businesses, are down, dropping to just 7 cases in nine months from 19 cases for the same period a year ago.

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