A group of citizens in Coralville, Iowa, is calling itself Citizens for Responsible Growth and Taxation and is protesting the town’s runaway debt by posting signs blasting the vast sum of money the city owes. Many of the hundred or so signs the group has placed around town have been removed.
Coralville has a population of just under 19,000 people, but is $277 million in debt according to the remaining signs. That equates to more than $14,500 of debt per citizen.
The group fears that if Coralville doesn’t get its spending under control, the town will go bankrupt. City officials claim to have a plan in place to begin reducing the debt.
There are many common causes of bankruptcy. If you are facing insurmountable debt, contact the bankruptcy lawyers of Hong Law, PLC, at 319-632-1400.
Coralville, IA 52241
Phone: (319) 354-1804
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