ongress recently passed much bankruptcy, then one might
the Bankruptcy Abuse assume that Las Vegas would be
Prevention and Consumer the bankruptcy capital of the
Protection Act, designed to world. How odd it is, then, to
minimize frivolous bankruptcy discover that Utah, one of only
filings and to require debtors to two states that prohibits
repay some of their debt. Once it gambling completely, has the
takes effect in October, 2005, highest per capita incidence of
the law will make it harder for bankruptcy filings in the United
those with problem debt to have States. Utah? How can that be?
their debt wiped away by the
courts. Most will have to agree # Utah has a number of aspects
to a five-year repayment plan. In that, taken on their own, don't
passing this new law, members of suggest that bankruptcy would be
Congress suggested that our a problem. Added together,
bankruptcy courts are filled with however, these things create a
cases involving not ordinary recipe for disaster:Utah has the
citizens, but with reckless nation's highest birthrate.
gamblers, shoppers, and drug Seventy percent of the citizens
abusers. Is that really the case? of Utah are members of the Church
of Jesus Christ of Latter-Day
Saints, and members are
One would think, given the encouraged to have large
accusations, that the highest families. It costs more to feed,
bankruptcy rate in the Untied clothe and house a large family
States would be in place where than a small one.
such vices were common, such as
California, New York or even # Utah has more families with
Nevada. If problem gambling is only one wager earner. Large
thought to be the cause of so families mean more stay-at-home
moms, so a lot of families must within the state.
get by on a single paycheck.
The combination of large
# Utah's wages are lower than families, fewer workers per
average. Many high tech companies family, church donations and low
have relocated to Utah in recent wages have contributed to an
years, but the "high tech" jobs economic environment that makes
they provide are often telephone it very hard for many Utahns to
customer service jobs, which stay afloat financially. This is
typically pay $8-10 per hour. in direct contrast with the
arguments put forth by Congress
# Members of the LDS Church are when the new bankruptcy law was
expected to tithe 10% of their proposed, which suggested that
income to the Church. most people filing for bankruptcy
are simply irresponsible. For
# While Utah's home prices are many hard-working people in Utah,
not among the highest nationally, the new law will make it harder
they are fairly high when than ever to make ends meet.
compared to the average wage
About the Author:
"©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including http://www.End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and http://www.StructuredSettlementHelp.com, a site devoted to information regarding structured settlements.
Source: www.isnare.com
