Financial Distress in Southwest Florida: A Look into Bankruptcies in Charlotte, Manatee, and Sarasota Counties

Strategic Insights -

In the late 1990s, the bankruptcy landscape in Southwest Florida's counties of Charlotte, Manatee, and Sarasota was marked by a significant number of Chapter 13 and Chapter 7 filings. This period saw individuals and families struggling with debt, with many facing financial difficulties due to a combination of factors such as job loss, medical expenses, and other personal challenges.

Key Takeaways:

  • The counties of Charlotte, Manatee, and Sarasota saw a total of 99 Chapter 13 filings, with individuals and families owing a combined $5,817,841 in debts, and owning assets worth $445,554.
  • The largest creditor in Charlotte County, Key Bank, was owed $5,040 by Chapter 13 filer Sheppard.
  • In Manatee County, 14 Chapter 13 filings were recorded, with debts totaling $684,379 and assets valued at $246,216.
  • The largest creditor in Manatee County, Homeside Holdings, was owed $62,566 by filer Guajardo.
  • In Sarasota County, 16 Chapter 13 filings were recorded, with debts totaling $1.16 million and assets worth $1.11 million.
  • The largest creditor in Sarasota County, Association Home Equity Services, was owed $31,000 by filer Havlicek.
  • The largest filer in Manatee County, Grubbe, owed $139,959 in debts and owned assets worth $138,965.
  • Meanwhile, in Sarasota County, the largest filer, Baker, had debts totaling $123,265 and assets worth $1,365.
  • The largest creditor in Sarasota County, Countrywide Home Loans, was owed $64,000 by filer Baker.
  • A majority of the Chapter 13 files in all three counties lacked information regarding the largest creditors.
  • Many chapter 7 filers in Manatee and Sarasota County lacked information on assets and largest creditors, resulting in a lack of comprehensive data.

Statistics:

  • Total Chapter 13 Filings in Charlotte County: 5
  • Total Chapter 7 Filings in Manatee County: 14
  • Total Chapter 7 Filings in Sarasota County: 17
  • Total Debts owed in Charlotte County Chapter 13 Filings: $5,817,841
  • Average Debt per Chapter 13 Filer in Manatee County: $48,917
  • Total Assets in Sarasota County Chapter 13 Filings: $1,166,698.90
  • Median Debt per Chapter 13 Filer in Charlotte County: $1,913,401
  • Largest Creditor in Manatee County Chapter 13 Filings: Homeside Holdings, owed $62,566
  • Largest Creditor in Sarasota County Chapter 13 Filings: Association Home Equity Services, owed $31,000

Sources:

  • "Charlotte County Chapter 13" (Source: Charlotte County Court Records)
  • "Manatee County Chapter 13" (Source: Manatee County Court Records)
  • "Sarasota County Chapter 13" (Source: Sarasota County Court Records)
  • "Manatee County Chapter 7" (Source: Manatee County Court Records)
  • "Sarasota County Chapter 7" (Source: Sarasota County Court Records)