Bankrupcy Filings in Colorado

Bankruptcy attorney, Risa Wolf-Smith was quoted today in The Denver Post on the escalation of bankruptcy filings across the nation, especially in Colorado. According to statistics released Monday from the Administrative Office of the U.S. Courts, Colorado recorded 5,916 filings in the third quarter, a 42.7 percent increase from the 4,145 counted in the third quarter of 2007.

The tight credit conditions behind the rise in bankruptcies make it harder to finance a restructuring, forcing more liquidations. "People are trying to get whatever they can," Risa said, "There aren't a lot of people willing to step in."

Read the full article "Colorado filings for bankruptcy accelerate," here.