Specifically, the national average on 60 day delinquencies for car loans is .81%, while the 90 day delinquency average for credit cards is 1.10%. Although these are relatively small percentages in this current economic situation, the most staggering number is the delinquency on mortgages at 6.25%, almost six times higher than the other loans.

Not surprisingly, the states that have been hardest hit with foreclosures, bankruptcies, and unemployment also have the most delinquencies. Nevada, which boasts the highest number of personal bankruptcy filings in the country, also has the largest number of mortgage delinquencies at 14.53%. The credit card and auto delinquencies are also higher than the national average, at 1.98% and 1.16% respectively. Florida is not far behind, with its mortgage delinquency rate at 13.34%. Florida, however, has better statistics for its auto and credit card delinquencies, at .99% and 1.47%, respectively.

Why is this trend in the way people make payments occurring? According to the Director of Consulting and Strategy for TransUnion, “Consumers recognize that their credit cards are their primary purchasing vehicles in this economy.” Using this logic, it appears that people, who are unemployed, want to maintain a good relationship with their credit card companies as they find themselves using these same cards for everyday necessities, such as food, paying utilities, clothing, and gas. Additionally, people find that they need their cars to go to jobs or to interviews for a job, and as such, do not want to have their vehicle repossessed. Individuals, in these situations, cannot afford to have these cards or cars taken away, as they provide for their basic needs. Their homes, however, do not hold the same weight.

Aside from individuals needing to use their credit cards and vehicles, they are also reluctant to pay their mortgages on time because of the lack of equity in their homes. People can see the value in their credit cards, paying for food, and their cars, getting to them work, but they cannot see value in a home, in which they owe 20% more than what the home is currently worth. Instead, individuals would rather have a home foreclosed on and continue to keep food on the table. Additionally, more and more individuals care less about a foreclosure remaining on their credit report for seven years. They simply rationalize that they will not own a house for a couple of years and rent instead. Until the housing markets rebounds for a number of consecutive months and unemployment reverses, it is likely that this trend will continue and even increase. It is not hard to understand, however, as people without jobs simply want to take care of their family, food, clothing, etc., and credit cards supply them with that opportunity.

According to data collected from the nation’s 90 bankruptcy districts, filings increased 32% nationwide from 2008 to 2009. In Central Florida, filings increased 58% from 2008, and 188% from 2007.

Compared to the rest of the country, Florida has the 12th largest increase of 44%. Arizona experienced the fastest increase of 77%, followed by Wyoming with 60%, Nevada with 59%, and California with 58%.

Florida workers are waiting to see what’s going to happen once the space shuttle stops flying next year, which will leave 7,000 space industry employees jobless. "It's very, very sad to see people in this situation," said Merritt Island bankruptcy attorney Carole Bess.

Bess thinks the problem is getting worse faster and we will be experiencing a new wave of businesses closing. A downward spiral occurs as businesses increasingly close because the number of unemployed rises, which potentially leads to even more bankruptcies.

Experts believe some of the increase is because of a natural recovery as consumers and attorneys become used to the recent overhaul of bankruptcy laws.

According to John Pottow, a bankruptcy professor at the University of Michigan, the return of the high number of filings show the failure of the 2005 overhaul bill, which made filings more costly and time-consuming as consumers had to go through exhaustive paperwork to determine eligibility for Chapter 7 bankruptcy and added liability for attorneys who provided assistance.

"It never made sense in the first place that you could change the laws and make all these bankruptcies go away,” said Pottow, who would like the 2005 law changes repealed. “If people are encountering financial distress, you can only scare them away for so long before they come back again.”