Protecting Family Farmers With Chapter 12 Bankruptcy
Chapter 12 bankruptcy is a form of bankruptcy used by farmers and fishermen who find themselves in significant debt. The Chapter 12 bankruptcy process is designed specifically for farming operations. It provides a tremendous amount of flexibility in reorganizing debt in a way that helps you to keep your farm, your assets and your career. After all, you have likely been farming for a long time, maybe even your entire life. Farming may be all that you have been trained to do. Do not just give it up and walk away from your livelihood without first consulting Thompson Law Group, P.C., for an experienced analysis of your financial situation and farming operations.
At Thompson Law Group, P.C., in Pittsburgh, our Chapter 12 bankruptcy attorneys have the bankruptcy law experience to help you through this difficult time in your life and the lives of your family. Because your financial issues are a serious matter, it is extremely important that you retain a lawyer who will answer all of your questions and work with you in a way that ensures you understand how the law pertains to you. Our experience representing other individuals in Chapter 12 farmer reorganizations will be critical to your situation as we help you get back on track.
Who Can File A Chapter 12 Bankruptcy?
Those who own crop farms, dairy farms, and horse farms, for instance, may be eligible to file a Chapter 12 bankruptcy. Also, people who own other types of farm operations, such as timber farms and plant nurseries, to name a few, may also be eligible to file Chapter 12 bankruptcy. It is important to understand that in order to consider your company a “family business,” then at least 50 percent of your annual income must come from farming. For instance, if you run a pumpkin patch and a country store and at least half of your profits come from your pumpkins and the things you grow on your farm, you may be eligible for Chapter 12 bankruptcy. We offer free consultations, during which we will analyze your specific situation and determine if you might be eligible for relief under a Chapter 12 reorganization.
Experienced Assistance With The Bankruptcy Process
Remember, if you are a family farmer or fisherman, Chapter 12 bankruptcy is specifically designed for people in your situation. At Thompson Law Group, P.C., we help people. It’s why we are in this business. We are one of the very few firms in this region of Pennsylvania to offer such specific legal services, and we want to help you keep what is yours.