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U.S. says bankruptcies up 11%, near 5-year high

U.S. bankruptcy filings have reached the highest level since 2005, government data show, as the economy slows and the unemployment rate hovers just below double digits.

Bankruptcy filings in Illinois rose 18 percent in the quarter ended in June. There were 21,691 bankruptcy filings between April and June, according to the Administrative Office of the U.S. Courts, up from 18,311 a year earlier.

Consumer bankruptcies rose 19 percent to 21,094, and business bankruptcies rose 4 percent to 597. Get the full story »