San Diego bankruptcy attorneys are seeing a huge rise in the number of bankruptcies, according to the Associated Press. According to the article, bankruptcy attorneys in several hard-hit regions have been shifting their caseloads to accommodate for the increase in bankruptcies.

Of the hard hit regions, Arizona saw the fastest increase in bankruptcies in 2009. Arizona's bankruptcy rate jumped 77 percent from the previous year. Wyoming followed at 60 percent, then Nevada at 59 percent.

California wasn't lagging too far behind last year, either, with an increase of 58 percent from the previous year. nationwide, bankruptcies increased 32 percent from 2008.

Bankruptcy attorneys in Arizona, as well as San Diego bankruptcy attorneys are feeling the crunch.

"Bankruptcy is swallowing up the whole practice," says one bankruptcy attorney, "There's little time to do other stuff."

What's interesting is the trajectory of the rate increase. According to the Associated Press, the bankruptcies seem to be coming in waves. The first wave of bankruptcies dealt with adjustable rate mortgages. The second wave came from unemployment caused by the housing downturn. The third wave consists of wealthy individuals and business owners who have begun to feel the bite of lower business profits.

2009 was the seventh-highest year on record for bankruptcy filings. There was a large surge in 2005, right before the Chapter 7 "means test" was introduced.

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