In 1986, Congress created a new type of bankruptcy: Chapter 12. This proceeding is geared toward financially distressed family farmers, allowing them to restructure their debt and get back on their feet. As a relatively new and highly specialized area of bankruptcy law, Chapter 12 requires the insight and skills of an experienced law firm.
At LSS Law, our Chapter 12 Bankruptcy team help farmers file successfully and forge a new path toward a more stable future. We combine compassion and sensitivity with objective and strategic counsel in order to provide the most effective representation possible for each of our clients.
Chapter 12 provides many benefits for family farmers that they would not obtain through Chapter 7, 11, or 13 Bankruptcy.
Here are a few examples of the advantages of Chapter 12:
Generally, Chapter 12 combines key advantages of each form of bankruptcy to give farmers an option that suits their unique occupational and financial needs. Our attorneys will closely analyze your situation, gather necessary documentation, and ensure you understand every aspect of the process before helping you begin.
Chapter 12 Bankruptcy code outlines a few requirements for farmers looking to file.
If you are an individual (or individual and spouse), you must:
If you are filing as a corporation or partnership:
The requirements for Chapter 12 Bankruptcy are complex, and you may be subject to certain exceptions. Because of our breadth of knowledge and experience in Chapter 12 bankruptcy law, our support can mean the difference between losing your property and working out a manageable reorganization plan with your creditors.
At LSS Law, our primary purpose is to help families, businesses, and communities thrive. We want you to achieve the new financial beginning you and your loved ones need. If you want your bankruptcy proceeding to have the highest likelihood of success, consult with our experienced Chapter 12 Bankruptcy lawyers in Miami as soon as possible.
Give us a call at (954) 516-2566 or send us an online message to request your free case review today.
The often times difficult Chapter 11 bankruptcy that traditionally favored larger companies is now available for small businesses through The Small Business Reorganization Act. Allows us to help you build a comprehensive strategy to navigate the process with the help our recognized team.
Contact us for a no-cost, no-obligation, bankruptcy strategy session.