Utahns’ Perspectives on Bankruptcy and Financial Stability

By many measures, the challenges of financial insecurity in the United States have reached alarming proportions. The historically and comparatively low (negative) savings rate, record levels of household debt, and half of all households nearing retirement with less than $10,000 in a 401(K) type plan or IRA, are all signals that as a nation we are not as financially secure as we should be. Until 2006, bankruptcy filings were climbing at an unsustainable pace and the most recent Census Bureau figures related to income, and health insurance indicate that middle and lower-income households are losing ground. The information presented in this report provides some important insights into the situation as it is experienced by Utah households.

Living on the Edge: Utahns' Perspective on Bankruptcy and Financial Security