Sign O’ the Times: Most Bankruptcy Filings Since ’05

From the Wall Street Journal this morning:

From April 1 through June 30, federal-court data show, 276,510 individuals and businesses sought bankruptcy protection, the highest quarterly total since 667,431 companies and consumers raced to file in the last three months of 2005 before more-restrictive bankruptcy laws took effect.

In the 12 months that ended June 30, the total number of bankruptcy filings was 28.9% greater than the previous year’s total, climbing to 967,831 from 751,056, according to data released Aug. 27 by the Administrative Office of U.S. Courts.