Bankruptcies Up Slightly

By: Associated Press
By: Associated Press

The number of personal bankruptcies in Colorado climbed slightly in March compared to a year ago.

Experts say people may be filing because they're worried about national legislation that will make it harder to qualify for debt relief.

Colorado Chapter Seven filings numbered two-thousand-842 between March 1st and Tuesday. That's up seven percent over all of March last year.

The increase may be due to fears about legislation in Congress that is intended to stop consumers' abuse of credit cards and other debt.

Supporters say the legislation forces people who have the means to repay at least some debt, but opponents fear it would keep people who are overwhelmed by medical costs or job losses hopelessly in debt.

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