South Florida personal and business bankruptcies are becoming the proverbial canary in the coal mine for financial distress as Iran war-driven energy prices and other rising costs add pressure to the ability to pay off debts.
Figures from the U.S. Bankruptcy Court the Southern District of Florida show filings are on the rise this year versus 2025 for Chapter 7 liquidations, Chapter 11 reorganizations and Chapter 13 bankruptcies that carry repayment plans.
“I believe this is the beginning of the tidal wave,” said Fort Lauderdale bankruptcy lawyer Chad Van Horn of the Van Horn Law Group. “There is so much debt in the system and, as you know, wages are not going up. Everyone’s putting purchases on credit cards. The consumers are…