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Black Hawk County supervisor files for bankruptcy
Associated Press
Sep. 21, 2011 7:35 am
Black Hawk County Supervisor Scott Jordan has filed for bankruptcy.
In his Chapter 13 filing in Cedar Rapids, Jordan says he owes more than $10 million to more than 45 creditors, including more than $6.7 million to Lincoln Savings Bank.
He has been a part of several area businesses, including Scott's Electric and Heartland Properties.
Jordan told KWWL-TV that he filed to "stop the bleeding and regroup."
Court documents listed his assets at just over $590,000.
Jordan says the record flooding in 2008 ruined Scott's Electric, as well as several other rental properties he owns.
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