Bankruptcy filings rose 10 percent last year, to a record 1.78 million, according to figures released by the federal court system.
The Administrative Office of the U.S. Courts said stricter bankruptcy laws that went into effect on Oct. 17 likely drove the surge. About 542,000 filings were made in the third quarter, an increase of 37 percent from the prior year's period and the most ever in one quarter, according to the report.
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