BOISE -
At the King Law Offices in Boise the business of going out of business is picking up.

With the new bankruptcy law going into effect on October 17th, attorney Grant King says more people are asking him about filing for bankruptcy. "We have seen an increase in August of filings. People trying to file before the deadline," King says.

Court records show that as of last month bankruptcy filings in Boise were up six percent over the year before from 4,610 filings to 4,898.

That figure is expected to go down starting in October because under the new law it'll be harder for Idahoans who make more than $46,000 dollars a year or who have filed bankruptcy in the past to get Chapter Seven bankruptcy protection. Those who do qualify will be required to take debt counseling classes.

Todd Christensen of the credit counseling company Debt Reduction Services says people should consider all their options before rushing to beat the October deadline. "There are programs to help lower their interest rates. To help get them out of debt...if they have excessive consumer debt within three to five years, debt management programs, there are classes, free classes that we offer every week to help people take control of their budget," he says.

When the new law goes into effect, people who can't have their debts extinguished may still be eligible for Chapter 13 bankruptcy protection. It allows debtors to keep assets like homes and cars but still requires them to pay at least a portion of their debt.