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chapter 12 bankruptcy for farms Archives

Could filing for bankruptcy save your family's farm?

While the economy continues to surge, there are still some South Florida residents who remain mired in debt. For them, the good times appear to be few and far between as they watch their family-owned farms and related businesses bleed money without turning a profit for yet another fiscal year. Just how long can they keep the creditors at bay?

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 can convert their case to a Chapter 7 bankruptcy during the process.

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.

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.

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 communication from creditors and a potentially unprofitable company can make this strategy an extremely challenging one.

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