Comments about ‘Utah bankruptcies rocket 62%’

We all know why there are so many bankruptcy filings in Utah.

I do not know what we all know, but I know it is because members of the Church & non members alike are trying to live like the Jones' on what they earn & it just keeps going on & on. A memeber will build a home on a street for 3/4 $ million & another member will build one across the street for $1 million. Then the first member will be jealous & upset. So they go to a better neighborhood & build one for $1.25 million & it goes on & on. "IF" these "SO CALLED" members would listen to the counsel of their leaders, this would have stopped a long time ago. Do I feel sorry for these 1/2 wits? NO WAY! Thank you for posting this TRUTH.

We do? As for "the truth" is that some cryptic expression that I'm suppose to fathom? Take your encrypted message to Facebook but not here, please.

The sad truth is that some bankruptcies come from job losses or medical bills that can't be paid. Some are irresponsible and live beyond their means, but not all do. My husband is self employed and is owed tens of thousands of dollars. Some customers have filed bankruptcy, meaning we won't get paid. Some can't pay because they lost their job and need to feed their kids. This bad economy trickles down and hurts everyone, even the innocent. If we don't get paid, we can't pay our bills either. It's not always a matter of keeping up with the Joneses. When we bought our home a few years ago, we truly could afford the mortgage. It's a comfortable home, but not nearly as big or nice as many homes in my ward. That's okay. I've always been content with what I've been given. Now it is a struggle because the money isn't always coming in like it should. My husband is a college graduate with a good job and we're hurting financially too, from circumstances that aren't our fault.

Not your fault? You mean the fact that your husband is self-employed and chose to let his customers pay when they wanted and to have "tens of thousands" in account receivable? Not your fault? You mean that you bought a house during great economic times that you could afford at the time, but didnt look into the future to see the cyclical nature of the economy? Not your fault? You mean your husband is a college graduate and STILL hasn't learned anything about the real world.

no guidelines. They felt everyone should own a home when it is really a privilege to own a home. Not everyone is responisble enough to own a home. Most people who got into trouble bought way to much home and others were smart but has the misfortune of losing a job.

It is because of the companies allowing people to get into so much debt and the people choosing to have it 'now' and pay it later. That is why it is happening. Look at the credit companies now! They will be stricter on who they lend to. They should have been stricter a long time ago instead of taking advantage of consumer stupidity. They keep lending because a majority of the consumer dead beats will continue to make payments and live on very little food, clothing and other necessities because they 'wanted it all now'. The greedy financial institutions were not looking at stability but how much they can make today because they will get a bail-out tomorrow. Plus I DO NOT believe it is about 'keeping up with the JONES'! Everyone gets these things to make themselves feel good and because it 'was' soooooo easy to get credit.

You certainly cannot control IF your customer is going to pay you. Plus YOU do not know the reason her husband has that much receivables? Hmmm could it possibly be another company STIFFING them because they also had other companies decide not to pay them too??? Just wait until YOU are in dire straits. Then people can say 'Not your fault??? Didn't you plan on LOSING your job??? or Why are you not prepared for a global economic meltdown??'. I bet you would say, 'I am totally prepared for everything that could happen to anyone at anytime, anywhere.'

As a bankruptcy attorney, I can tell you there is a little truth in each of the positions. The top reasons are medical expenses and job loss. It often does not matter how much you are paying on a home if you've lost your job for an extended period.

One of the real problems not mentioned are the credit card interest rates that were unilaterally raised by the credit card companies time and time again until there is no way out but bankruptcy. This problem far exceeds those who are in a home that's too expensive for them.

Looks like Zion and the promised land isnt so promising anymore.Chosen people??? Chosen for bankruptcies????

America and Utah has no economy. We don't even have the prospect of growth as government would have us believe.

It was inevitable that america crumbled to the state it is in. It was foreseeable when all our industry began outsourcing american jobs and manufacturing to cheap labor nations.

Now all that is left are trickle down jobs at lower wages with no real industry. Education is not an industry, health care industry is only as good as the people that can pay for it. Our economy is imported goods and no one with money to spend, not even the likely hood of a better income. In fact, incomes are further declining and inflation is rampant and raising taxes even higher to support a failing government and all its welfare systems.

At some point all tax funds will disappear with the jobs and who will be left to tax? Who will pay for education or medical care, the phantom economy?

Our economic priority is to block foreign goods and provide for ourselves. Otherwise, there is no hope. This level of increases of bankruptcies are a strong indicator of our economy still in trouble.

I have a hard time feeling sorry for folks who got into financial problems. Most of them are just "trying to keep up with the Jones`s." They have never learned thrift, or the value of a hard day`s work. From early in our marriage, Brother Smith and I made it a point to never buy anything on credit. If we couldn`t afford to pay cash, then we just did without. More people should follow the example of Brother/Sister Smith, and quit going into debt for foolish things. I think most so called "saints" don`t realize that the love of money is a great sin in His eyes.

Your comment is uncalled for and should be stricken. You have no clue how the gentleman ran his business, and whether or not he chose to let clients' payments slip, or to extend their credit!

Your comments were mean, nasty, and beyond the pale in imagining what other people can portend. Many small business owners pay their staff and employees first, taking all the risks themselves.

You don't know, and I can only imagine how vile and self-indulgent you are to write such. I guess you are counting on Dominos not laying you off soon!

While I do believe in accountability for choices, aren't most Americans a paycheck or two away from bankruptcy anyway? What would happen if your work stopped paying you, or missed a month? Two months? A medical emergency requiring extensive time in the hospital for the bread winner?
I am sure grateful for the job I have.

I'll tell you why people declare bankrupcy in Utah--and it's not because Uthans want to live "like the Joneses," although I recognize that happens. It's because
1. Utah pays below average wages
2. Utah has an above average cost of living
3. Utahns have humongous families
4. Utahns give 10% of their wages to charity

Taken together, these four factors lead to bankrupcy.

Irresponsibility in family finances may contribute to some of these hardships. But what attitude should we take towards those who are struggling? Should we blame them for their misfortunes saying, "This man has brought this misery upon himself"? Or might we assume that they are learning some rather hard lessons and be one that is willing to help them back up again? Blaming is easy to do, but it takes a better person to help someone even when they've made mistakes.

Wow! The number of judgemental, holier than thou people here is truly amazing!

Blah Blah Blah, Will the real hate mongures come out? Oh! I see the liberial haters all ready have! Amazing how they love diversity and freedoms for everyone accept thoose they disagree with! Oh thet just can not let their anger go!!

Wow. Just when I think I've seen the bottom of the pit of how sanctimonious and mean Americans have become, they manage to surprise me and sink even lower. What happened to "There, but for the grace of God, go I?"

You don't really believe that do you? People have to file bankruptcy for two reasons: 1) Lack of Preparation; and 2) Foolish financial mistakes.

Any "good" bankruptcy attorney will tell you those are the reasons people file for bankruptcy.