DAYTON — The fight against inflation continues across the United States, but in Ohio, it is hitting many local families hard.
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Richard West, a bankruptcy attorney, has been practicing for more than 30 years and said the number of bankruptcy cases has been increasing.
According to West, his recent research has revealed that bankruptcies in Ohio’s southern district, which includes Dayton, Columbus and Cincinnati, are up 63% year-to-date.
Additionally, his office has seen a 100% jump from this time last year.
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“What they’ll do typically is supplement with a credit card because it’s available credit they’ll get a tank of gas or bag of groceries or something. Then they’ll make the minimum payment, but what’s happening is their debt is growing to the point where the minimum payment exceeds their ability to pay and that’s pushing them into bankruptcy,” West said.
He said the key to staying on top of financial problems is to put everything into a budget and then remove all the spending that is not necessary.
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