Community Behavioral Health Center Struggles with Debt

FAIRBANKS-  The budget for Fairbanks Community Behavioral Health Center is critically low. Today the board of directors explained to a packed room that they can only keep the operation running for about 3 more weeks. Within the next day they will discuss different options with a bankruptcy lawyer. Guest speakers with the Foraker group stressed that bankruptcy will create stability for clients and staff because it will protect the non-profit agency from creditors.   The Vice President Yonni Fischer said the services they offer to more than 1 thousand clients will continue uninterrupted.  “If we file chapter 11, that means there could be reorganization and we’d be back up on our feet and we’d keep things moving smoothly for the Fairbanks community," Fischer said. The worst case scenario is they would have to file chapter 7 bankruptcy which means it’d be liquidation to pay off debts, "but I have to add, there would still be service to clients because another entity would take over the organization.”