Bankruptcy statistics for Utah

At the end of 2001, Utah ranked 3rd in the U.S. in personal bankruptcy filings.

At the end of 2002, the number rose to 22,052, placing Utah 1st in the U.S.

At the end of 2003, the total number was down by 135; however, those figures still left Utah in the No. 1 spot.

At the end of 2004, some progress was made as Utah came in at 5th in the U.S.

In Utah, bankruptcies are filed at the rate of one in every 37 homes!
The national average is one in every 73 homes!

About 68 percent of the filings are Chapter 7, meaning the filer is asking the Bankruptcy Court to forgive as many debts as possible, with no intention or obligation to make payments on them. (Chapter 13 involves an agreement to re-pay and for a set period of time.)