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Hundreds File Bankruptcy Cases To Beat A Monday Deadline
Denver (AP) Hundreds of Coloradans are filing for bankruptcy protection ahead of changes in the federal law that take effect Mnday. U.S. Bankruptcy Court Clerk Brad Bolton says 1,491 cases were filed Wednesday to set a new record. Another 332 were filed before noon Thursday.
President Bush signed the bankruptcy overhaul into law on April 20th. Requirements for bankruptcy protection will become stricter, including filing for protection under chapter seven. That's where debts may be wiped out entirely.
Bolton says he has about 20 employees dedicated to handling the filings in the Denver court, ten more than he had a year ago.
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