It was bankruptcy or 200 years of credit card payments

Bankruptcies are reaching new highs in recent months, with October posting the most bankruptcy filings – both locally and nationally – since laws were changed in 2005 making it more difficult to do so.

We reported on this in the S-R on Nov. 9, and the New York Times had a recent story on the national scene here.

In the Eastern Washington District of U.S. Bankruptcy Court, filings for 2008 are expected to run 33 percent ahead of last year, and the Idaho district is on pace for a similar increase.