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U.S. consumer bankruptcy filings surged 40 percent in October compared with the same month a year ago and are up 20 percent between September and October, the American Bankruptcy Institute reported.
Consumer bankruptcy filings totaled 106,266 last month, the first time they have topped 100,000 on a monthly basis since the Bankruptcy Abuse Prevention and Consumer Protection Act took hold in October 2005. Bankruptcy filings in the first 10 months of this year have surpassed the total in all of last year.
