Washington state is now ranked 12th in the nation in average growth of bankruptcy filings...up from 27th place last year.
According to the Seattle Times... 18,000 people have declared bankruptcy this year statewide. It's the most since 2005, when congress passed laws making it more difficult for people to cancel debt.
Experts say many people can't keep up financially when their interest rates jump and their mortgage payments increase.
Right now, California is leading the way with an 80% increase in bankruptcy filings. Arizona has a 76% increase and Nevada is the third highest at 70%. Washington's bankruptcy rate increased 41%.