Personal bankruptcies up 41 percent

Consumer bankruptcies soared 41 percent in September from a year before and climbed from August, as high unemployment and the housing market crash took their toll, the American Bankruptcy Institute said on Friday.

September filings totaled 124,790, the fourth-highest month since the bankruptcy law changed in 2005.

Filings also rose 4 percent from August, even as recent reports have indicated that the U.S. housing market might be stabilizing and consumer confidence appears to be recovering. (more)