Bankruptcies are on the rise.

Consumer bankruptcy filings increased by 36.5 percent during the first six months of 2009, to 675,351, up from 494,610 during the same period in 2008, according to the American Bankruptcy Institute. June filings increased by 41 percent to 116,365. "As unemployment, foreclosure rates and health care costs continue to rise, more consumers are turning to bankruptcy as a last financial resort," said ABI executive director Samuel Gerdano. "We expect that there will be more than 1.4 million new bankruptcy filings by year end."

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