On April 20, 2005, President Bush signed into law the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 ("BAPCPA"). BAPCPA made substantial changes to the Bankruptcy Code. And the Bankruptcy Judges Division has made significant revisions to this online version of Bankruptcy Basics to account for BAPCPA's changes to the Code. Since the passage of these laws, it is highly recommended by the Federal Courts that individuals hire counsel to guide them through the federal judicial process.

The most recent quarterly statistics on bankruptcy filings complied and published by the Administration of the U.S. Courts indicate that 7,483 bankruptcies were filed in Colorado in the most recent published quarter. Of those filed, 6,392 were Chapter 7 cases and 1,045 were Chapter 13 cases.