Despite the decline, Utah’s numbers remain comparatively high nationally with the state claiming the fourth-highest filing rate per capita during the first nine months of 2012 — 5.99 petitions for every 1,000 people, the American Bankruptcy Institute reports.
The average nationwide per capita filing rate was 3.97 petitions for every 1,000 people.
According to David Sime, clerk of the U.S. Bankruptcy Court for Utah, filings by Utahns dropped 13 percent in the first nine months.
Filings nationwide also are down, declining 14 percent, according to the institute, a nonprofit research organization that tracks insolvency filings and related issues.
Although the number of bankruptcies in Utah is down significantly this year, there hasn’t been a similar slowdown in the number of Utahns seeking help for their financial problems as they try to avoid the ultimate solution to too many bills and not enough money in their bank accounts.
The remaining 68 percent filed for Chapter 7, which involves a trustee liquidating a debtor’s assets and distributing the proceeds to creditors. Salt Lake Tribune
