Chapter 12 Bankruptcy

Family Farmer & Fisher Bankruptcy

Chapter 12 bankruptcy of the Bankruptcy Code was enacted by Congress in 1986 and updated in 2005, specifically to meet the needs of financially distressed family farmers & family fishermen. The primary purpose of this legislation was to give family farmers facing bankruptcy a chance to reorganize their debts and keep their farms.

Under the new Bankruptcy Act of 2005, credit counseling may be required or other options may be required, Contact a Chapter 12 Bankruptcy Lawyer to find out all your legal options and rights

Under Chapter 12 – Like chapter 13, but it is only for family farmers and family fishermen.

Types of Chapter 12 Litigants:

• Corporation
• Partnership
• Joint Petition
• Individual Petitions

Contact a Chapter 12 Bankruptcy Lawyer to find out all your legal options and rights

Bankruptcy Law Is A Federal Law. This Sheet Gives You Some General Information About What Happens In A Bankruptcy Case. The Information Here Is Not Complete. You May Need Legal Advice.

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