The Jefferson County commissioner has announced that the county has an 80 percent chance of filing for bankruptcy.
The commissioner made this announcement after a day full of meetings with bankruptcy lawyers. She is now the first democrat that supports the plan for the county to file for bankruptcy. This option is looking like more and more of a possibility if a settlement is not reached with creditors.
Creditors have yet to respond to a settlement that was submitted last week that will increase sewer costs in order to erase $1.3 billion of a $3.14 billion sewer debt that has been around since 2008. A discussion with creditors was hoped to be reached by this week, but it has not occurred at this time.
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