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...
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Chapter 12 Bankruptcy for Farms
Which type of bankruptcy is best for my agricultural business?
You know firsthand the financial challenges of owning farm or another agricultural business. After several years of struggle, your debt from running your business is insurmountable, and you are considering bankruptcy. Filing bankruptcy is nothing to be ashamed of:...
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...
Keeping livestock during bankruptcy
Many farmers rely on their livestock and crops to provide a livable income for their families but are not sure how to address the growing debt from their farm practices? Bankruptcy is always an option, but it’s an option most farmers avoid due to misconceptions of...
What are your options if your farm is struggling financially?
While it may be ideal for us to tackle our debt before it becomes too high for us to control, we sometimes can't anticipate a bad crop, our heavy machinery giving out on us or other unforeseen circumstances that come with running a farm. If you find yourself with...
How Florida farmers can get a relief from debt
Running a business as a family farmer can be challenging, and cash flow can be difficult to have under tight control, especially due to seasonal fluctuations in income. Therefore, if a farmer has difficultly due to cash flow problems at certain points in the year, it...
Debt discharges and Chapter 12 bankruptcy
One of the major benefits of filing for bankruptcy is that it offers a way for people or businesses struggling financially to obtain a discharge from some of their debts. This means that they are able to have some of their debts completely written off. The first step...