Conn. bankrupticies reach 4-year high

Hartford (AP) - A new report shows Connecticut's bankruptcy rate has reached a four-year high.

There were 6,289 Chapter 7 filings from January through September. That's up nearly 51 percent from the 4,176 filings during the same months in 2008. During the same months in 2007, there were 2,480 filings.

The report was released Monday by The Warren Group in Boston, publisher of The Commercial Record.

Timothy Warren, the group's CEO, says the dramatic increase in bankruptcies shows the effect of job losses and salary cuts. He says many people are struggling to pay bills and have accumulated debt by relying on credit cards.

The number of Chapter 7 filings in Connecticut is still below levels in 2005, when a new federal law made it tougher to file for bankruptcy protection.