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Thu April 9, 2009
Bankruptcy Increases in Hopkins Co.
By Carrie Pond
Madisonville, KY – Bankruptcy filings are on the rise in Hopkins County. The U.S. Trustee Program shows 401 county residents filed for chapter 7 or 13 bankruptcy in 2008, a nearly 30 percent increase from the previous year. Attorney Douglas Ramey tells the Madisonville Messenger he's noticed an increase in bankruptcy filings in his office. He says most of his clients file for bankruptcy because of excessive medical bills, divorce or a drastic income change, like unemployment. The Federal Deposit Insurance Corporation ranks Hopkins County as having the highest rate of bankruptcy filings per 1,000 residents in the state for 2007.