Is your farm mired in debt and getting little relief? According to the American Farm Bureau Federation, the nation’s largest farm advocacy group, many farmers are struggling this year. Between January and September, 580 farmers filed Chapter 12 bankruptcy. That’s up...
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chapter 12 bankruptcy for farms
Is your farm at risk from your unpaid debts?
Some Florida farms have been in the same families for generations. Your grandparents or even great-grandparents may have tilled the same soil planting crops as you now do. But that doesn't mean that everything has stayed the same over the years and the generations. In...
Filing for Chapter 12? What you should know
A Chapter 12 bankruptcy can give many struggling farmers a chance to reorganize their debts, as well as have some additional time to bring them under control. If you decide to file for Chapter 12, you will need to file with your petition for bankruptcy the following...
Can you file for Chapter 12 bankruptcy in Florida?
One of the lesser-used procedures for filing for bankruptcy is Chapter 12. It was created by Congress to respond to the debt needs of family farmers and is quite similar to filing for Chapter 13 debt reorganization. In fact, one of the similarities is that the debtor...
Do you understand the repayment plan for Chapter 12?
If you have filed for a Chapter 12 bankruptcy, you likely heard from your attorney about the need to file a debtor repayment plan within three months of your filing the petition for bankruptcy. Your Chapter 12 repayment plan must establish set amounts that you pay the...
Should farmers consider filing for Chapter 12 bankruptcy?
The United States is approaching uncertain financial times once again. The outcome of some trade wars with foreign governments can have a negative effect on America's farmers and their ability to get top prices for their harvests. This trickle-down effect can put...
Are you a Florida farmer who’s deeply in debt?
Many debtors contemplating filing for bankruptcy have never heard of a Chapter 12 bankruptcy. This unique bankruptcy filing is only available to owners family farmers or those in similar employment situations. Chapter 12 options first became available in the 1980s to...
Common questions that farmers have about bankruptcy
If you are struggling with increasing debts as a farmer, it is always best to face your problems head-on rather than to simply hope they will go away. When looking at the problems that your farming business has, it can be difficult to know where to start. This is why...
The information needed to file for Chapter 12 bankruptcy
If you run a family farming business in the state of Florida and are struggling with debts, it is likely that you are considering the options that you have to improve your situation. While trying to repay debts alone can theoretically be possible, constant...
Farmers tapping into new markets to tackle financial struggles
In the last 50 years, the consumption of cow's milk has declined by 40 percent. In addition, recent years have seen a trend in people cutting out or reducing meat and dairy products for a number of different reasons, including environmental and health reasons. For...