A recent Wall Street Journal article titled, “Personal Bankruptcy Filings Rising Fast” from Tuesday, January 5, 2010 discusses the state of bankruptcy filings in the United States. The article indicates the number of Americans filing for personal bankruptcy rose by nearly one-third in 2009. The reason for the increase in bankruptcy filings is related to foreclosures and job losses. The Wall Street Journal reports that personal bankruptcy filings hit 1.41 million in 2009 which is up 32% from 2008. This number is the highest level of consumer bankruptcy filings since 2005.