More people are filing for bankruptcy.
The American Bankruptcy Institute says that filings exceeded 100,000 in October. That's up 40 percent over October last year... and up 20 percent from this September.
So far this year consumers have filed more than 880,000 bankruptcy petitions... almost 60,000 more than all of 2007. This is the first time a month's filings has topped 100,000 since revised bankruptcy laws went into effect under the bush administration.
Chapter 7 filers now have to undergo a review to see if they have enough income to pay some part of their debts.