Ohio town may need bankruptcy filing. The economy has hit all of America hard. Town after town has had to turn to bankruptcy lawyers for help paying their bills. No area of the country has been hit harder than the Rust Belt states. These states used to be home to countless factories. Many of these factories have down sized or completely closed. Many of the goods that used to be made in America are now made in places like China. Ohio is a Rust Belt state that is also in trouble. The state has not had a town in it have to file bankruptcy to pay its bills yet. That could be about to change very soon. East Cleveland has been in big trouble for a long time. It is one of the poorest cities in the state. Boarded up buildings are all over town. The city lost its two biggest employers in the last few years. Property values have plunged. That means even less money for the city. The city has been under a state ordered fiscal emergency since 2012. The city has their finances reviewed by a state commission. Recently, it has gotten even worse. The city’s cellphone provider cut off service because they were not paid. The city does not have money to buy salt for the roads. That is critical due to the harsh winters in Ohio. Some are worried the city will not even be able to make its payroll. The mayor said the city is considering filing a bankruptcy. It appears this once proud city has no other choice. Bankruptcy attorneys appear to be the only way this city can dig out of its hole. Many are wanting this city to return to prosperity. Filing a bankruptcy could be the only way that could ever happen.
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