Bankruptcy and Banking & Finance and Wealth Management

Area couple's bankruptcy filing lists $18.5M in debt

July 23, 2012

An Indianapolis-area couple that operated more than two dozen companies—including one that provided financial counseling—has filed for bankruptcy, listing $18.5 million in debt that includes unpaid business loans and mortgages for homes in Florida and Wyoming.

Bradley Stephen Snyder of Nashville and Michelle Lenee Snyder of Fishers filed for Chapter 7 liquidation in U.S. Bankruptcy Court in Indianapolis on July 16.

Court documents show the Snyders operated several businesses, including Bellwether Inc. and AM Publishing Inc., at 9102 Fallview Drive in Fishers. Debt attributed to Bellwether is listed at more than $3.6 million, which includes a $1.6 million loan backed by the U.S. Small Business Administration, the court filing said.

Court records show Snyder also operates or has operated other businesses on Fallview Drive, and at Keystone Crossing and Woodfield Crossing in Indianapolis. The businesses include such names as Chapter 20 Publishing Inc., Consumer Disclosure Mortgage Inc. and Life After Bankruptcy Inc.

Courtney Chilcote, attorney for the couple, declined comment.

The couple’s debt includes $9 million in unpaid mortgages—$5.4 million for a home in Bonita Springs, Fla., and $2.6 million for another in Jackson Hole, Wyo., in addition to their residences in Fishers and Nashville, according to court documents.

Real estate taxes owed on the Florida home total $132,271. Fees owed to a neighborhood homeowners association are listed at $43,068.

Credit card debt totals nearly $1 million from Chase, Citibank, Fifth Third Bank, PNC and Saks Fifth Avenue.

The couple lists $176,591 in assets.
 

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