Bankruptcy Filings Down! Hurray?
It’s been a year since federal bankruptcy law was made tougher, and the effects are showing. Filings in Greater Cincinnati and Northern Kentucky are down more than two-thirds. The drop mirrors the national trend. Enquirer.com reports:
Last year, a record 2.1 million bankruptcies were filed nationwide. The tidal wave of filings happened mostly before implementation of the Bankruptcy Abuse Prevention and Consumer Protection Act took effect on Oct. 17, 2005 designed to prevent marginal filers from using the court system to walk away from their debts.
Read more:Bankruptcy filings way down
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