BK filings spike in Feb.

[keepmine]

No surprise given the number of new members we've had the past few months.

http://www.reuters.com/article/ousiv/idUSN0338898320080303

"It is probably too early to attribute the current trend to the mortgage crisis. But if it continues -- as it is certainly expected to with adjustable rate mortgages resetting -- it could add to the bankruptcy rate," Gerdano said in an interview.

The institute is forecasting more than 1 million consumer bankruptcies in 2008, compared with about 800,000 in 2007, due mostly to heavy household debt. But the 2008 estimate could go even higher "if this contagion affecting the home mortgage market continues," Gerdano said

[car67]

I think it will get alot worse sad to say

[Penny Less]

Yeah this seems like the tip of the iceberg.

[HHM]

If I may be a little cynical

The reason for the spike is that February is generally the month where the 90 day rule expires on most peoples Christmas spending splurge.

[car67]

The worse will come look at the markets and record foreclosures its not getting any better

[MajorMike]

and with the prices of gas still going up, and unemployment rising.....It doesn't look good.

[Minnymouth]

Don't know about the rest of you, but I sure am GLAD that I got my financial life straightened out and under control before all this other crap started.

If not, I don't know that I could have survived all the stress that all of it together would have created.

Even now with the price of everything (gas, food, etc) going up and up, it makes it hard just to make ends meet sometimes if on a fixed income.

[keepmine]

Yep Minny it's time to really tighten up. This ride could sure get a lot nastier if the economy can't create more jobs in a hurry.

[justplaintired]

That's why were here, I think it will get worse, and we have to get our finances on track before that happens.

[$$only4ever]

I don't know what government expects. The foreclosure percentages are sky high. Everyday living (gas, food, etc) is sky high and if something has to give, people are going to stop paying credit cards and take care of their families. Thank god, I do not have any of those nasty, plastic little money eaters!!!

[ameliabedilia]

No surprise given the number of new members we've had the past few months.

You are right- I hadn't been on much this month and there are so many new users that I have never seen before!