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		New Report Demonstrates that Utahns Still Struggle with Financial Instability

We’ve talked a lot about financial stability in this space over the past several months—and for good reason. For three straight years (2002-2004) Utah ranked first in the nation for the number of personal bankruptcy filings. In 2005 we ranked third, and now we rank tenth, according to a report published last week by the American Bankruptcy Institute, a Virginia-based research group.

Certainly, tenth is better than first or third in terms of bankruptcy filings, but we still have a lot of work to do in fixing the insolvency problems in the state. Last year, Utah had one filing per 208.2 households. This year it’s one filing per 167.4 households—and our filing rate still far exceeds the national average, despite having the hottest economy in the nation. Strong job growth, income growth and rising home values certainly help Utah families, but a vast number of Utahns are still living on the edge. They struggle with low wages, lack of health insurance and inadequate savings.
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 Deborah S. Bayle
 President and CEO