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...
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chapter 12 bankruptcy for farms
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...
Restructuring your farm after debt struggles
When any business is struggling with debts, it is vital that action is taken early on in order to prevent the situation from escalating. The debt accumulation is likely to be due to a number of external or environmental factors that are largely out of the business...
Are all farmers eligible for Chapter 12 bankruptcy?
If you are a farmer in the state of Florida and you are struggling with increasing debts, it is likely that you have considered ways that you can relieve yourself of such a heavy financial burden. While bankruptcy is considered by many as a last resort, it can be a...
Chapter 12 bankruptcy can help you take control of farm finances
Operating a profitable family farm is not always easy. There are major expenses that the average person would never even think of that are necessary to successfully run a farm. Machinery for planting and harvesting crops, as well as seed stock or root stock for...
How Chapter 12 bankruptcy affects taxes
Before filing for any bankruptcy chapter, it is important that you understand the implications that the particular chapter will have on your finances. Each bankruptcy chapter has its own set of eligibility guidelines, benefits and requirements. Therefore, you should...