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Utah bankruptcy filings rise 32% over same period in ’00

SHARE Utah bankruptcy filings rise 32% over same period in ’00

The number of Utahns filing for bankruptcy through August was up 32 percent over the number for the first eight months of 2000, according to the U.S. Bankruptcy Court for the District of Utah.

A total of 1,889 Utahns filed for bankruptcy last month, with 55 percent of those filing under Chapter 7, which allows debtors to quash nearly all eligible debt while keeping future income and their assets.

Year-to-date filings in Utah total 12,919 for the eight months ending Aug. 31, surpassing the total number of filings in all of 1997.

Bankruptcy filings across the country continue to increase. During second quarter 2001 a record 400,394 cases were processed by U.S. courts, up 25 percent.