It's tax season. Interestingly, there seems to be a correlation between tax season and bankruptcies. According to the Los Angeles Times, bankruptcies rise after tax refunds are issued.
A study conducted by several universities found that for the 2008 tax year, bankruptcy filings increased 7% after the IRS issued tax refunds.
So in a way, are we seeing a "bankruptcy season" following tax season? Quite possibly. But why is that?