http://blogs.wsj.com/economics/2010...continue-to-rise/?mod=rss_WSJBlog&mod=blogmod Personal bankruptcy filings continued to climb in October, on pace to reach their highest level in five years. Another 132,173 consumer bankruptcies were filed last month, up 1.4% from September, the American Bankruptcy Institute said Tuesday based on data from the National Bankruptcy Research Center. Filings were down about 2.8% from the same month a year ago. While monthly changes tend to be volatile, the trend points to another year of rising bankruptcy cases. Nearly 1.3 million personal bankruptcy filings have been recorded so far this year, up from almost 1.2 million during the first 10 months of 2009. Experts predict the number of filings will reach 1.6 million this year, the largest number since Congress overhauled the bankruptcy system in 2005 and debtors hurried to file before the new provisions went into effect. There were more than 2 million bankruptcy filings that year. That law was designed to make it more difficult for Americans to walk away from their debt by steering them toward Chapter 13, in which a debtor works out a payment plan to pay back loans. But Chapter 7, in which a consumerâs debts are forgiven and assets are sometimes forfeited, has remained more popular. Fewer than 30% of bankruptcy cases filed last month were Chapter 13. The massive job losses during the recession have made it particularly difficult for overleveraged households to work out plans through Chapter 13 because such plans require an income.