Filing for Chapter 12 bankruptcy is a process designed specifically for family farmers and fishermen who face financial hardships. This form of bankruptcy provides these individuals with the opportunity to restructure their finances and avoid foreclosure or...
If you own a farm and face financial turmoil, you might feel overwhelmed and unsure of how to proceed. In these cases, one solution that might offer you a lifeline is Chapter 12 bankruptcy. Chapter 12 bankruptcy, established by Congress in 1986, provides a solution...
Individuals and businesses can file for bankruptcy. However, the requirements are different depending on your situation. What does that mean if you are the individual owner of a small farm? Consider the requirements for filing a Chapter 12 in New York. What is a...
Running a farm comes with enormous challenges. There exists a significant risk of even the best enterprise collapsing. Those that fall into trouble typically face bankruptcy. Wise strategies help mitigate the prospect of this becoming a reality. Make smart buys While...
Chapter 12 bankruptcy allows family farmers and fishermen to reorganize debts when expenses exceed income. This bankruptcy option is one of several to consider, so interested parties should know the answers to these frequently asked questions to determine if Chapter...
Chapter 12 bankruptcy is a way for family farmers to restructure their debt over three to five years. The goal of chapter 12 is to streamline the repayment process and avoid the costs associated with chapter 11. However, to qualify for chapter 12, farmers must meet...
Survival has always been difficult for farmers. These days, continuing the lifestyle is especially tough. There are more than a few reasons why farmers might need to declare bankruptcy. Here are a few, followed by tips on how to file when the time comes. Reasons...
Those who own a family farm in the state of New York may be eligible to file for Chapter 12 bankruptcy. The same may be true for individuals who work as fishermen. If you fall into these categories and you are facing foreclosures and repossessions, you may want to...
Chapter 12 bankruptcy provides debt relief to families who earn a regular income from farming or fishing. These individuals can reorganize debt over three to five years without many of the restrictions that apply to corporate reorganization under Chapter 13. Review...
Paycheck Protection Program An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis When businesses across the nation were forced to shut their doors in March due to administrative regulations set to combat COVID-19,...
