Bankruptcy filings in the U.S. surged 37 percent in February from a year earlier, with more Americans seeking protection from their creditors as the economy sank into its deepest recession in at least a quarter century.

Total filings for individuals and companies rose to more than 103,000, according to data compiled by Automated Access to Court Electronic Records, a service of Jupiter ESources LLC in Oklahoma City. Commercial filings rose to 6,303, up 47 percent from the same month a year earlier, the group said.

Last month’s Chapter 11 filings dropped slightly compared to the end-of-the-year rush that marked December 2008, but tough economic conditions continue to keep rates hovering at levels significantly higher than at the same time last year.

The U.S. bankruptcy filing rate declined again in January 2009. This was the second straight month of declines, when bankruptcy filings are computed on a daily basis as should be done.

More than 1.1 million Americans filed for bankruptcy in 2008, a 32% increase from the year before and the largest annual total since 2005, according to Automated Access to Court Electronic Records (AACER).

Investors didn't reap much reward for going global last year. But that doesn't mean you should toss your portfolio's passport just yet.

It's easy to criticize foreign-stock investing these days. Though the U.S. was the epicenter of the global credit crisis and market meltdown, overseas markets were generally hit harder than domestic stocks last year.