Bankruptcy Flurry Seen As Strict New Law Nears

Denver (AP) The U.S. bankruptcy court in Denver has set a record for the number of filings in one day. The number was 433 last Friday. Court officials don't expect that record to last for long.

It's likely the flurry of filings is being spurred by a new law that will make it tougher to file bankruptcy. The law takes effect October 17th. The new law includes higher filing fees and requires credit counseling and debt education.

About 28,000 bankruptcies have been filed so far this year in Colorado. Last year's total was 27,993.

Copyright 2005 by the Associated Press. All rights reserved.
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