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CHAPTER 12  COULD HELP YOU SAVE YOUR FARM

During the past couple of years, many farmers have faced financial challenges due to unfavorable weather, bad genetics, weeds, lack of manual labor and other larger farm related company failures or restructuring.

A Chapter 12 bankruptcy may be a great Innovative Approach to save your farm by allowing a restructuring of your finances and avoiding liquidation or foreclosure. Under Chapter 12, you continue to operate your farm under court protection while a payment plan is proposed to pay your creditors.

You are a good candidate for Chapter 12 if:

• You want to keep farming in the normal course of things without having to seek court approval to use, sell or lease property.
• You have a Farm Operation that needs to be restructured due market volatility
• You need to stop a foreclosure or repossession, or other collection action.
• You need to restructure payments to meet your cash flow.
• You owe more on your home, equipment or livestock than what it is worth

The Reality:

• You can continue on as you are with each year slowly going deeper into debt.
• Volatile prices on common crops may continue to erode your financial position
• Your estate for children and grandchildren may become negligible leading your family into extensive debt
• With the all of that being said you may be a Farm Operation that needs to restructure due to market volatility, we can assist you with that.

We are Pennsylvania attorneys who have over 50 years of combined bankruptcy experience. We’ve experienced the ups & downs of the  grow season with our farmer clients and have the experience to shepherd your farm into the 21st century with an option to save your farm, or to restructure your  growing operation.