A central Florida businessman who made a name for himself as a debt counselor during the Great Recession has filed for chapter 7 bankruptcy, listing more than $100 million in liabilities, the Orlando Sentinel reported today. Timothy McCallan, of Melbourne, Fla., was hit with a judgment in February for $107 million in an Alabama bankruptcy for a large debt settlement law firm — Allegro Law — that was shut down by a judge six years ago as a massive fraud. Now McCallan is telling a court in Florida that he needs protection from that claim and other claims, via his bankruptcy filing. Court investigators in the Allegro case have been pursuing McCallan, because his companies, Americorp and Seton Inc., provided record-keeping and data services to Allegro.
