Colorado Bankruptcy Filings Continue To Climb

Denver (AP) More Coloradans are filing for bankruptcy, with
nearly 19,000 cases filed through the end of last month. Some attorneys attribute the increase to filers rushing to the courthouse, before a new law takes effect that'll make it tougher to erase financial obligations.

About 18,900 petitions were filed in Denver's U.S. Bankruptcy Court from January through July. That compares with 16,500 filed in the first seven months of 2004. The bulk of this year's filings were under chapter seven, which allows assets to be liquidated.

The new law will require people with incomes above a certain level to pay off credit card charges and other obligations under a court–ordered bankruptcy plan. it's scheduled to take effect october 17th.

Copyright 2005 by the Associated Press. All rights reserved.
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