Who Can File for Chapter 12 Bankruptcy?
Who can file for Chapter 12 bankruptcy? Chapter 12 is not your average consumer bankruptcy. Instead, it is reserved for those designated as family farmers or fishermen. You must have a regular income from these sources and prove you face financial distress to qualify. Also, Chapter 12 is not a bankruptcy that erases your debts….
Will Your Farm Qualify for Chapter 12 Bankruptcy?
Will your farm qualify for Chapter 12 bankruptcy? Chapter 12 bankruptcy was designed for farmers and fisherman who have a regular annual income. This allows farms in distress to create a plan and repay all or a portion of their debts that they have struggled with. While it is an excellent financial option for farms…
Five Surprising Facts about Bankruptcy in the U.S.
Bankruptcy is not uncommon to American consumers. Even if one particular consumer has not filed, odds are high that he or she has a friend or family member who has before. Regardless of how common it is, it is still widely misunderstood. So, whether you are considering filing for bankruptcy yourself or if you have…
After Bankruptcy: What Steps Should I Take First?
What steps should you take after bankruptcy? You have finished your bankruptcy proceedings – now, your debts are either discharged, or you are going through the court-designated repayment program. Regardless, you have been given a fresh start with your finances, which means that you need to play it smart. A large majority of those who…
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