Utah, the Nation?s Bankruptcy Capital

Congress recently passed the Bankruptcy Abuse Prevention and Consumer Protection Act, designed to minimize frivolous bankruptcy filings and to require debtors to repay some of their debt. Once it takes effect in October, 2005, the law will make it harder for those with problem debt to have their debt wiped away by the courts. Most will have to agree to a five-year repayment plan. In passing this new law, members of Congress suggested that our bankruptcy courts are filled with cases involving not ordinary citizens, but with reckless gamblers, shoppers, and drug abusers. Is that really the case?

One would think, given the accusations, that the highest bankruptcy rate in the Untied States would be in place where such vices were common, such as California, New York or even Nevada. If problem gambling is thought to be the cause of so much bankruptcy, then one might assume that Las Vegas would be the bankruptcy capital of the world. How odd it is, then, to discover that Utah, one of only two states that prohibits gambling completely, has the highest per capita incidence of bankruptcy filings in the United States. Utah? How can that be?

Utah has a number of aspects that, taken on their own, don't suggest that bankruptcy would be a problem. Added together, however, these things create a recipe for disaster:

Utah has the nation's highest birthrate. Seventy percent of the citizens of Utah are members of the Church of Jesus Christ of Latter-Day Saints, and members are encouraged to have large families. It costs more to feed, clothe and house a large family than a small one.

Utah has more families with only one wager earner. Large families mean more stay-at-home moms, so a lot of families must get by on a single paycheck.

Utah's wages are lower than average. Many high tech companies have relocated to Utah in recent years, but the "high tech" jobs they provide are often telephone customer service jobs, which typically pay $8-10 per hour.

Members of the LDS Church are expected to tithe 10% of their income to the Church.

While Utah's home prices are not among the highest nationally, they are fairly high when compared to the average wage within the state.

The combination of large families, fewer workers per family, church donations and low wages have contributed to an economic environment that makes it very hard for many Utahns to stay afloat financially. This is in direct contrast with the arguments put forth by Congress when the new bankruptcy law was proposed, which suggested that most people filing for bankruptcy are simply irresponsible. For many hard-working people in Utah, the new law will make it harder than ever to make ends meet.

©Copyright 2005 by Retro Marketing.

Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and StructuredSettlementHelp.com, a site devoted to information regarding structured settlements.

---

Google News Updated : Fri, 04 Jul 2008 18:53:55 GMT Chance discovery points to crib death cause - Reuters ChattahBox Chance discovery points to crib death cause Reuters - 21 hours ago By Michael Kahn LONDON (Reuters) - An imbalance of a key brain chemical could cause crib death, researchers said on Thursday in what they called a chance discovery. SIDS Linked to Brain Chemical Dysfunction Washington Post Brain imbalance 'cot death key' BBC News InjuryBoard.com - Los Angeles Times - WebMD - The Associated Press all 229 news articles Publ.Date : Thu, 03 Jul 2008 20:59:03 GMT Borowski designated for assignment - MLB.com TSN.ca Borowski designated for assignment MLB.com - 1 hour ago By Anthony Castrovince / MLB.com Looking to repair their battered bullpen and get a better read on what the future holds, the Indians designated the veteran Borowski for assignment on Friday. Indians designate RHP Joe Borowski for assignment The Associated Press New closer alert! Borowski out in Cleveland SportingNews.com National Post - Most Valuable Network - The Plain Dealer - cleveland.com - WANE all 141 news articles Publ.Date : Fri, 04 Jul 2008 16:59:25 GMT Madge Kabbalah'd A-Rod into Submission - TMZ.com ABC News Madge Kabbalah'd A-Rod into Submission TMZ.com - 6 hours ago Madonna is using "mind control" through the power of Kabbalah to mesmerize A-Rod into making him her boytoy, according to friends of his wife. A-Rod's wife tells pals she believes Madonna lured Yank with kabbalah New York Daily News Kabbalah Kool-Aid: Madonna's 'soulmate' to divorce Monsters and Critics.com Reuters - ABC News - E! Online all 1,426 news articles Publ.Date : Fri, 04 Jul 2008 12:49:58 GMT Flames descend canyons in Santa Barbara Co. fire - San Jose Mercury News Reuters South Africa Flames descend canyons in Santa Barbara Co. fire San Jose Mercury News - 41 minutes ago AP GOLETA - A fast-moving wildfire fueled by Santa Barbara County's notorious "sundowner" winds consumed about a half-dozen outbuildings overnight, but firefighters were able to save hundreds of homes from intense flames in the pre-dawn hours, ... Firefighters hold line on two California wildfires Reuters Goleta fire doubles in size overnight Los Angeles Times Bloomberg - CNN International - San Diego Union Tribune - The Santa Barbara Independent all 399 news articles Publ.Date : Fri, 04 Jul 2008 18:12:01 GMT Obama remarks on Iraq prompts flip-flop charge - CNN Times Online Obama remarks on Iraq prompts flip-flop charge CNN - 2 hours ago (CNN) -- Sen. John McCain's campaign again called Sen. Barack Obama a flip-flopper after the Democratic candidate held a do-over news conference to clarify his remarks on the Iraq war. Analysis: Obama's shifts to center give GOP ammo The Associated Press Obama Fuels Pullout Debate With Remarks New York Times WCTV - Monsters and Critics.com - Los Angeles Times - ABC News all 1,014 news articles Publ.Date : Fri, 04 Jul 2008 16:23:39 GMT Mosquito disease risk isn’t higher - Milwaukee Journal Sentinel NY1 Mosquito disease risk isn’t higher Milwaukee Journal Sentinel - 15 hours ago By JEANNINE AQUINO The swarms of mosquitoes spawned by warm weather and lingering floodwaters in Wisconsin are more blood-sucking nuisance than medical peril, health officials said Thursday. West Nile Spreads Due to Flooding, Threatens 4th of July Celebrations eFluxMedia Mosquito district warns: Watch out for West Nile Virus Sacramento Bee WJBF-TV - IdahoStatesman.com - phillyBurbs.com - Atlanta Journal Constitution all 431 news articles Publ.Date : Fri, 04 Jul 2008 03:43:41 GMT Christina Applegate's Boyfriend Found Dead - FOXNews NEWS.com.au Christina Applegate's Boyfriend Found Dead FOXNews - 3 hours ago AP LOS ANGELES - "Married With Children" star Christina Applegate’s boyfriend was found dead in his apartment on Tuesday, FOX News has learned. Lee Grivas, Christina Applegate's Boyfriend, Found Dead Associated Content Christina Applegate's sometime boyfriend, Lee Grivas, found dead New York Daily News E! Online - Los Angeles Times - TheCelebrityCafe.com - TMZ.com all 112 news articles Publ.Date : Fri, 04 Jul 2008 15:22:05 GMT Automatic Blogging Display RSS Feeds on Your Website

PARLOT::Ebooks, Scripts, Websites, and more...

Adsense websites

Learn The Five Key Debt Reduction Steps You Must Take Immediately!

Step 1. The purpose of this first step is to... Read More

Craving For Financial Freedom

Have you ever felt trapped in a Rat Race and... Read More

Debt Collectors: Men or Mice?

Who are these people anyway? They viciously harass you and... Read More

Bankruptcy - The New Scarlet Letter

Nathaniel Hawthorne's book The Scarlet Letter states in Chapter 2,... Read More

Debt Negotiation and Debt Settlement

Debt negotiation and settlement can give you a drastic reduction... Read More

Secrets to Why Debt Reduction is So Vital for Your Financial Health

Living with debt is never a good idea if you... Read More

IVA Information

If you're thinking about an IVA, it is essential to... Read More

The Debt Free Lifestyle

Many people have been taught that you cannot get ahead... Read More

What Does A Bankruptcy Trustee Do?

Once you file bankruptcy a court appointed bankruptcy trustee will... Read More

Home Equity ? Foreclosure Often Not Necessary in Current Market

While driving around your community, you may have seen signs... Read More

Debt Relief with this Simple Formula

Is there a way to get out of debt without... Read More

Credit Repair? Its All Up to You

Log onto to a search engine such as google.com and... Read More

IVA Advice

An IVA (individual voluntary arrangement) is an alternative to bankruptcy... Read More

Eight Ways to Consolidate Debt

Next to winning the lottery, a debt consolidation loan is... Read More

Credit Card Debt: How to Get Rid of It

This method is simple, but requires some discipline.First, you have... Read More

Life After Bankruptcy

Bankruptcy and Credit - What Happens After Your Debts Are... Read More

New Bankruptcy Law Makes it Harder to Stop Foreclosure

On October 17, 2005 President Bush's sweeping bankruptcy reform law... Read More

Are You SURE Your A Bad Debt?

Many people who seek the advice and guidance of debt... Read More

What is Debt Settlement?

Debt settlement is the process of negotiating with your creditors... Read More

Debt: Dont Pay Your Minimum Balance

Almost all Americans carry credit card debt. Actually, over 40%... Read More

Student Loans Can?t Be Swept Away Through Bankruptcy

Bankruptcy is in the news these days, as Congress has... Read More

Debt Consolidation and Personal Finances: Learn the Truth!

An inability to manage credit, growing debt and bankruptcy are... Read More

Hide That Car! Fighting the Repo Man

Vehicle repossession may appear justified in circumstances where a person... Read More

Take Careful Consideration Before Filing Bankruptcy

Filing bankruptcy is not fun! It is a last resort... Read More

Tips To Take Control Of Debt Collection

Yes, debt collection tips can help. You may think you... Read More