Five economic factors combined in pushing bankruptcy filings higher again, as the streak of increases now stands at 27 months in a row.

According to data provided by Epiq AACER on Tuesday, total bankruptcy filings came in at 47,104 in October, representing a 16% increase from last October’s total of 40,674.

Analysts reported individual bankruptcy filings totaled 44,522 in October, also marking a 16% lift year-over-year from the 38,278 filings posted in the same month last year.

Epiq AACER determined there were 27,358 individual Chapter 7 filings in October, a 22% increase over the 22,351 filings recorded in the same month last year.

And there were 17,091 individual Chapter 13 filings in October, an 8% rise above the 15,874 filings in October of last year, according to Epiq AACER tracking.

“We continue to observe a rise in overall filings, with notable increases in individual filings, reflecting the financial pressures faced by households,” Epiq AACER vice president Michael Hunter said in a news release.

“Factors such as higher consumer loan delinquency rates, increased interest rates, record-high national average mortgage payments, sharp increases in insurance premiums, and overall increased expenses are significantly impacting household budgets, driving the upward trend in bankruptcy filings,” Hunter continued.

Epiq AACER also reported that overall commercial filings increased 8% to 2,582 in October. That’s up from the 2,396 commercial filings registered last October.

“Elevated prices for goods and services, along with higher borrowing costs, compound the economic challenges faced by struggling families and businesses,” American Bankruptcy Institute executive director Amy Quackenboss said in the news release. “Access to bankruptcy is key to consumers and companies looking to alleviate their intensifying debt loads and have a chance for a financial fresh start.”

Looking at the data on a sequential basis, Epiq AACER noted October’s total bankruptcy filings represented an 11% increase when compared to the 42,547 total filings recorded in September.

Total individual filings for October also marked an 11% rise from the September filing total of 40,098, Epiq AACER indicated.