Lenny Dykstra, filing bankruptcy, foreclosures, unemployment

126,434 Americans filed for bankruptcy in July

— the highest monthly total since landmark changes enacted five years ago — and the number could hit 1.4 million by the end of the year, Bloomberg writes.
The increases march in lock step with unemployment, home foreclosures and tighter credit. The data come from the American Bankruptcy Institute.
From January through June, 675,351 Americans filed for bankruptcy, a 36.5% jump from the same period a year ago.
Bloomberg notes a couple of celebrities who have filed for Chapter 11 protection: actor Stephen Baldwin, who is fighting foreclosure, and former Philadelphia Phillies star Lenny Dykstra, who owes between $10 million and $50 million. Dykstra's filing comes in the wake of more than 20 lawsuits he faces tied to his activities as a financial entrepreneur, including The Players Club, a glossy magazine for athletes that he helped launch last year.
Dykstra also used to be featured on Yahool Finance dispensing advise on stocks and money.