Chapter 12 Bankruptcy
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Is Your Family Farm Facing Financial Difficulties?

Chapter 12 bankruptcy is specially designed to help family farmers and family fishermen manage financial distress. Farmers who are earning a regular income but find themselves with debt problems may be able to use a special type of bankruptcy to get the relief they need. Chapter 12 protection takes into account the problems unique to family farmers in ways that Chapters 11 and 13 do not.

In order to understand exactly how filing for bankruptcy and going through the bankruptcy process can help you get the debt relief you need, you should speak with a bankruptcy attorney. At Nicolet Law Office, S.C., we have helped hundreds of clients file for bankruptcy, use the protections offered under bankruptcy law to fix their financial situation, and receive debt discharge in bankruptcy court. We are ready to help you understand how Chapter 12, or any other appropriate bankruptcy option, can help you address situation and move forward in as positive a situation as possible.

The Benefits For Qualifying Farmers

Family farmers are often forced to make capital investments more akin to a larger corporation or publicly traded company than to an individual or small business. The income to debt ratio is simply different for a farmer than in many other businesses. However, Chapter 11 reorganization bankruptcy was not designed for the income levels or size of total debts of most family farms.

Chapter 12 bankruptcy is generally less expensive than Chapter 11. It is also faster and more straightforward, so the process, from initial filing to setting up payments that are approved by the bankruptcy court, can be fairly efficient.

Chapter 12 allows family farmers to address debts larger than those typically covered in Chapter 13 bankruptcy. It shields assets more effectively, and gives farmers an easier path forward when they file a petition for a hardship discharge or debt repayment plan under Chapter 12.

Overall, the unique benefits are clear for a debtor who qualifies. These, combined with the traditional benefits of bankruptcy, make Chapter 12 an effective means for family farmers looking to get the fresh start that only debt relief can provide.

Get Help From An Attorney When Filing Bankruptcy (Chapter 12)

At Nicolet Law Office, S.C., we connect you with a Chapter 12 bankruptcy lawyer who knows how to protect the interests of family farmers facing financial problems. Don’t face the bankruptcy process, court hearings, and dealing with the trustee alone. An attorney at our firm can help you get the answers to all of your questions, including:

  • How does Chapter 12 bankruptcy address debts as part of unsecured claims for unsecured creditors?
  • How are secured debts vs. unsecured debts handled in Chapter 12?
  • What are non-exempt assets under Chapter 12 bankruptcy law?
  • Can Chapter 12 help farmers with credit card debt, child support back payments, secured debts, and other various forms of debt?
  • How do tax year elections matter to what type of chapter plan is selected?
  • Are there thresholds for annual income level that makes a different type of bankruptcy more favorable than others?
  • How do my total debts, income level, and corporate structure factor into my repayment plan?

We can help you understand your options and guide you through the process to create a new future for your family. If you eventually decide to file bankruptcy to reset your financial situation, we guide you through all stages of your bankruptcy case and maximize the benefits that you receive from reorganization and repayment.

See If You Qualify For Bankruptcy Filing Today

The U.S. Bankruptcy Code limits Chapter 12 bankruptcy based on debt, income and the nature and organization of your business. We can help you find out if you qualify for Chapter 12, assist with a bankruptcy petition, and represent you in court hearings with the bankruptcy trustee should the need arise. If you don’t qualify, we can help you understand your other options for bankruptcy relief. Our goal is to put you in the best possible position to succeed and reduce your total debts.

Contact Us To Discuss Chapter 12 Bankruptcy Protection

Call 715-802-0872 or fill out our contact form to schedule a free consultation with an attorney at our law firm. We offer flat-fee bankruptcy services, payment plans and reasonable fees to clients in Wisconsin and Minnesota.

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