Utah Bankruptcy Rate Rises As National Rate Falls

A recent news story revealed some very interesting facts about bankruptcy filings in Utah. While the overall national trend this year has been a decline in bankruptcy filings, Utah bankruptcies are on the rise. Utah is normally pretty close to the national trend when it comes to bankruptcy statistics. However, this year, according to recent data from the Utah Bankruptcy Court, the number of overall cases has increased nearly 8 percent from last year. This is a fairly large increase considering the national average actually declined. More than 14, 5000 have already been filed this year. Clearly if you are seaching for a Salt Lake City bankruptcy attorney, you are not alone.

Experts are not sure why Utah has seen such a considerable increase in bankruptcy filings this year. Some experts indicate Utah has historically lagged on these types of economic trends and since the national average has leveled out and now has begun to decrease, perhaps Utah filings will soon follow. Some predict next year, the number of cases brought will be substantially lower. Some have tried to put a positive slant to the message claiming many people file for bankruptcy when an economy improves so they can have a fresh start and move forward in a better position.

For more on this story see the video below:

Bankruptcy Lawyer | Salt Lake City | Provo

If you or someone you know is struggling to make their bills on time, we can help. We can represent you in the bankruptcy process in Utah, giving you a fresh start. In this market many families are on the verge of losing their home to foreclosure, we can help prevent foreclosure in some cases and have helped numerous families stay in their home. Right now we are in the middle of the holidays. Get some peace of mind by meeting with a bankruptcy lawyer in our office today. Call us anytime at 801.413.1753. We look forward to your call. We serve clients all over the state including Salt Lake City and Provo.