Overview of Chapter 12 "Family Farmer" Bankruptcy
 
In the mid-1980s, farmers throughout the United States faced seemingly insurmountable credit problems. Struggling family farmers were seeing their property and equipment placed on the auction block. In order to protect distressed family farms, Congress added Chapter 12 to the Bankruptcy Code in 1986. In 2003, about 700 family farmers sought the protection offered by a Chapter 12 bankruptcy. More...
 
Effect of Dismissal
 
In general, the dismissal of a case prior to discharge is without prejudice and the debtor is not barred from receiving a discharge in a subsequent case of those debts that were dischargeable in the dismissed case. The Bankruptcy Code gives the court discretion, for a certain period of time and when there is cause, to deny the debtor the benefits of the general rule to dismiss the case with prejudice thereby preventing the debtor from obtaining a discharge with regard to the debts existing at the time of the dismissed case. More...
 
Overview of Chapter 12 "Family Farmer" Bankruptcy
 
Chapter 12 is a part of a federal law called the Bankruptcy Code. Debtors and the United States Bankruptcy Courts must follow its provisions. Each Chapter applies to a different type of debtor. For example, Chapter 13 applies to consumers or individual debtors, with regular income who want to repay their debts under a bankruptcy plan. Chapter 12 applies to certain family farmers. More...
 
Can a Bankruptcy Debtor Keep his Home?
 
Under the Bankruptcy Code, a voluntary or involuntary case is commenced by filing a petition with the bankruptcy court. A Chapter 7 or 11 bankruptcy case may be initiated by a voluntary filing by the debtor or by an involuntary filing by the debtor's creditors. Cases under all other chapters may be initiated only by a voluntary petition. More...
 
Chapter 12 Eligibility Requirements
 
Chapter 12 of the Bankruptcy Code was enacted to meet the needs of financially distressed family farmers. The primary purpose was to give family farmers facing bankruptcy a chance to reorganize their debts and keep their farms. Chapter 12 is designed to permit family farmers to repay their debts over a period of time from future earnings. The eligibility requirements are restrictive, limiting its use to those whose income arises primarily from a family-owned farm.More...