Heavy mortgage debts and a tough economy pushed Colorado bankruptcy filings up 38 percent in the first half of the year.
The U.S. Bankruptcy Court for Colorado recorded 13,041 new filings in the first half of the year, compared with 9,470 in the same period of 2008.
“I’ve been doing this long enough to see four recessions, and this is the worst I’ve seen in the last 24 years,” said Stephen Berken, a Denver bankruptcy lawyer.
Berken, who filed four cases Wednesday, said unmanageable mortgage debts are behind more filings. Historically, high medical bills, divorce and job losses trigger filings.
People with businesses in real estate, construction and mortgages are showing up in increasing numbers, said John Turner.
Small businesses, especially retailers, are hurting Read More
Hang on there people in Colorado you have seen nothing yet until all of Obama’s tax increases hits home to pay for his socialist healthcare and Cap and Trade bills. Wait until the inflation of the dollar comes because of Obama printing money that we don’t have. Oh yes its going to get much worst in Colorado and all the States! Thats what you get when you elect a socialist president with radical policies!