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...
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chapter 12 bankruptcy for farms
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...
Automatic stays in Chapter 12 bankruptcy
Chapter 12 bankruptcy is a specific type of bankruptcy that is especially created for family business owners who work as farmers or fishermen. Therefore, the specifics of the bankruptcy filing are tailored to benefit farmers and fishermen who are struggling...
Solutions to financial distress as a farmer
As a farmer, keeping on top of your business, especially when the industry is uncertain, can be very difficult. Many farmers are building up debts that they struggle to have full control of, and they suffer under a great deal of stress and pressure as a result. One...
Farming economics and bankruptcy
Running a farm is difficult business, and times are changing quickly. It is unfortunate that hard working farmers are subject to swiftly changing consumer demand, and it can be impossible to change supply and business models as quickly as the market changes...
Farm diversification is a great supplement to bankruptcy
Many farms have been struggling with profitability for years. The U.S. Department of Agriculture's (USDA) predictions of profit have been overly optimistic to say the least. When the price is falling on key farming staples such as milk and hogs, farms often have no...
Navigating bankruptcy as a Florida farmer
It's becoming increasingly common for farmers to face financial hardships within their current revenue stream. Credit is becoming more difficult to find and animal produce is harder now than ever to gain profitable returns from. Therefore, many farmers in Florida and...
Solving economic hardships on American farms
In the years since 2013, farmers across America have endured hardships due to the decreasing real value of agricultural produce such as livestock and crops. Shockingly, between the years of 2013 and 2016, there was a reported 45 percent decrease in the net income of...
Asset liquidation and Chapter 12 bankruptcy
When you are going through Chapter 12 bankruptcy, especially if you are in the farming business, it is likely that you will be wanting to avoid the liquidation of large assets. Chapter 12 allows for the possibility to do this because it means that you are able to...