Personal Bankruptcies Begin To Soar Again

``Bankruptcy data usually lags 3 or 4 months but the trend is ominous. For the last 12 months some 1.2 million bankruptcy filings have occurred. Much of this is linked to the 26,000,000 unemployed or underemployed Americans being unable to pay their bills or even service their debt. What is more telling is the amount of Chapter 7 bankruptcies occurring since these are straight liquidations and not like a Chapter 13 restructuring.''