The American family farmer is at the center of this country’s history and self-image. The independent farmer was the core element of Thomas Jefferson’s vision of democracy. He believed that independence of judgement was a by-product of the self-reliance that farmers exemplified. That vision is still an important part of America’s identity. Just ask any of the artists who performed at Farm Aid 2017.

The legal system should be especially responsive to the needs and concerns of America’s family farmers. That is why there is a special designation in bankruptcy law, Chapter 12, tailored to independent farmers and fisherman. While it is a tragedy for the operators of any family farm to declare bankruptcy, it would be unconscionable for those folks to then suffer the compound indignity of facing a legal system that was insensitive to their circumstances. If you are a family farmer or fisherman who may be facing bankruptcy, keep reading to learn more about your rights and which steps you should follow next, including how to contact an expert legal team in the Jacksonville, Florida area.

Chapter 12 Bankruptcy

This domain of bankruptcy law was established specifically to address the needs of family farmers and fisherman. It was determined by federal lawmakers in Congress that Chapter 11 and 13 did not suit traditional farmers because of the complexity and expenses associated with those actions. Therefore, the process for filing Chapter 12 reorganization is considerably more straightforward.

Remember, not all bankruptcies result in the loss of one’s property. The word itself has taken on such a negative connotation that it is important to remind people that there is no shame in reorganizing one’s debts. Indeed, creditors are often perfectly content to work with their debtors in order to ensure that payments are made in a timely manner.

The first, and in some ways the most important, step in declaring Chapter 12 is the original submission. It is essential to get this task completely correct because once it is filed, the lion’s share of charges that the debtor is required to pay can be halted. When completing this form, the debtor will need provide information on all of the:

  • Property that he or she owns
  • Expenses that he or she is responsible for, including taxes, rent, mortgage, utilities, etc.
  • Creditors that he or she is indebted to, and the amount(s) of those debts
  • Sources of income that he or she receives

It is important that this information is comprehensive and accurate. An incomplete or inaccurate initial filing can result in a huge headache later down the road.

Contacting the Right Attorney

If you believe that reorganizing your debts under Chapter 12 is the right thing to do for your family farm, then contacting an experienced, qualified, and dedicated attorney is simply essential. The legal team at Adam Law Group in Jacksonville has the tenacity and competence to ensure that your filing meets all of the federal government’s requirements and that your debts can be successfully reorganized under Chapter 12. There is no time to lose when it comes to protecting what’s most important to you: family and legacy. Call today to learn more.

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