Bankruptcy filings in Utah plummeted 90% in November

Just 158 bankruptcy filings were processed by the U.S. Bankruptcy Court for the District of Utah in November, a 90 percent drop compared to 1,584 filings during the same month in 2004.

Bankruptcy experts attribute the drop in filings to federal bankruptcy reforms that went into effect in October and make it harder for consumers to file for bankruptcy. A total of 5,680 Utahns filed for bankruptcy in October, many in an effort to beat the effective date of the new law.

Bankruptcy filings in Utah from January through Nov. 30 increased by 12 percent compared with the same 11-month period in 2004.