Ohio ranks 7th in bankruptcy filings up 34 percent over last fiscal year, court records show

November 25, 9:10 PMColumbus Government ExaminerJohn Michael Spinelli

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Bankruptcy Filings per 1,000 Population, State and Territories, Fiscal 2009
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COLUMBUS, Ohio -- Figures released Wednesday by the U.S. Courts on the number of bankruptcy filings over the last federal fiscal year show Ohio ranked 7th highest, a sign that more trouble and heartache are headed toward the Buckeye State, where unemployment has hit 10.5 percent, manufacturing jobs continue to go poof every month and where the social safety net once backstopped by steadfast state dollars is now frayed from declining state revenues.

Total bankruptcy cases filed in federal courts for fiscal year 2009 -- for October 1, 2008 to September 30, 2009 -- totaled 1,402,816, up 34.5 percent over the 1,042,993 filings reported for the 12-month period ending September 30, 2008, according to statistics released today by the Administrative Office of the U.S. Courts.

In FY 2009, filings rose for all bankruptcy Chapters:

• Chapter 7 filings in FY 2009 totaled 989,227, up 45 percent from the 679,982 Chapter 7 filings in FY 2008.
• Chapter 11 filings rose 68 percent, increasing from 8,799 in FY 2008 to 14,745 in FY 2009.
• Chapter 13 filings rose 13 percent, from 353,828 in FY 2008 to 398,210 in FY 2009.
• Chapter 12 is designed to meet the needs of financially distressed family farmers.

In FY 2009, Chapter 12 filings totaled 487, up 47 percent from the 332 Chapter 12 filings in FY 2008.

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