Chapter 12 was designed specifically to assist financially distressed family farmers by allowing them to reorganize their debts and keep their farms. Filing Chapter 12 is easier and less expensive than Chapter 11, but offers more protection than would a Chapter 13 plan in order to protect the assets and address the larger debts of a farm. Only family farmers with regular annual income may file to ensure that they will be able to make the necessary payments.
Contact us to learn more about your options.