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Number of Utah Bankruptcies on the Decline

Number of Utah Bankruptcies on the Decline

Posted - Oct. 7, 2004 at 7:25 a.m.



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SALT LAKE CITY (AP) -- Perhaps signaling a reversal in a decade-long climb, a federal court is reported a promising decline through three-fourths of this year in Utah bankruptcies.

According to figures yesterday from the U-S Bankruptcy Court for Utah, declarations for the first nine months of the year were down five percent.

If that trend continues the rest of the year, it would be the first significant decline in ten years.

The last significant decline was a four percent drop in 1994.

The Utah drop coincides with a national decrease of one percent from June 2003 to June 2004.

The numbers are still high, but they're improved some by things like low interest rates, which have allowed more families to clean up household finances.

(Copyright 2004 by The Associated Press. All Rights Reserved.)

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