SALT LAKE CITY (AP) – Fewer bankruptcy filings were reported in Utah last year.
U.S. Bankruptcy Court for Utah Clerk David Sime says Utah residents filed 16,263 bankruptcies in 2012. That’s 12 percent less than 2011.
The Salt Lake Tribune reports it’s the first time since late 2005 that Utah saw a significant drop in annual bankruptcy filings.
Nationwide, bankruptcy filings dropped 14 percent in 2012 from the previous year.
The nonprofit American Bankruptcy Institute, which tracks bankruptcy filings, says the 2012 numbers are the lowest total since the financial crisis hit in 2008.
Executive director Samuel J. Gerdano says filings are expected to continue dropping in Utah and across the country.