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Published: Saturday, 6/2/2007

Bankruptcy filings up 74 percent for area

Filings in U.S. Bankruptcy Court in Toledo were up 74 percent last month and are up 84 percent for the first five months of 2007, the court reported yesterday.

Bankruptcies in the 21-county northwest Ohio region have steadily risen this year after a precipitous drop last year, following bankruptcy-law changes in late 2005 that boosted filing costs and mandated credit counseling.

Filings in May totaled 581, versus 334 in May, 2006. For the year, there were 2,330 cases, up from 1,270 in the same period a year ago. For 2006, there were 3,837 filings, down from the record of 16,883 in 2005.

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