U.S. bankruptcy filings rose 33 percent in the third quarter to the highest number since 2005, government data show, as rising unemployment and tight credit made it more difficult for consumers and businesses to stay current on their debts.

"With unemployment surpassing 10 percent and credit to businesses remaining tight, consumers and businesses are increasingly turning to the financial relief of bankruptcy," said Samuel Gerdano, executive director of the nonpartisan American Bankruptcy Institute, in a statement.

There were 388,485 filings in the July-to-September period, up from 292,291 a year earlier and up 2 percent from the second quarter's 381,073, according to data released Wednesday by the Administrative Office of the U.S. Courts.

Consumer filings rose 33 percent to 373,308 from 280,787 a year earlier, while business filings increased 32 percent to 15,177 from 11,504.

For the first nine months of 2009, there were 1,100,035 bankruptcy filings, up 35 percent from a year earlier. The 45,510 business bankruptcies in that period surpass the 43,546 total for the entire 2008 year.

Among the larger businesses to file this year have been automakers General Motors and Chrysler, mall owner General Growth Properties, telecommunications company Nortel Networks, and after the end of the third quarter, finance company CIT on Nov. 1.

More Top Stories

Week Ahead: Health Care Could Temporarily Bruise Stocks

Obama Making Final Health Care Pitch to House Dems

Obama Close to Health Law Success That Eluded Past

Health-Care Tax Hikes Have Investors Feeling a Little Sick

Bernanke: Keep Fed as Watchdog of Small US Banks

More Top Stories