Bankruptcies in Ohio drop 14 percent to six-year low


Bankruptcies in Ohio drop 14 percent to six-year low

AKRON, Ohio

Court statistics show the number of bankruptcy filings in Ohio last year fell to the lowest total since 2006.

Eexperts point to several reasons for the drop, including mortgage lenders holding off foreclosure proceedings and people having so much financial trouble that they have no assets left to protect.

University of Dayton professor Jeffrey Morris, who’s a member of the National Bankruptcy Conference, says increased awareness about the struggling economy also may make people more cautious financially.

The roughly 50,600 personal and business bankruptcies in 2012 mark a drop of 14 percent from 2011, when there were more than 58,800. That’s according to data from Ohio’s two U.S. Bankruptcy Court districts.

The Columbus region had the most, with more than 11,000 bankruptcies.

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