| Family
Farmer or Family Fisherman Bankruptcy (Chapter 12)
Chapter 12 bankruptcy is almost identical
to Chapter 13 bankruptcy. But to be eligible for Chapter 12
bankruptcy, at least 80% of your debts must arise from the
operation of a family farm. Chapter 12 has higher debt ceilings
to accommodate the large debts that may come with operating
a farm, and it offers the debtor more power to eliminate certain
types of liens. Only a few hundred people file for Chapter
12 each year, while hundreds of thousands file for Chapter
13. To learn more about this kind of bankruptcy, contact Pierson
Legal Services, or click
here to read more from the U. S. Courts website.
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Chapter
7
Chapter
11
Chapter
12
Chapter
13
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