Indiana Farm Bankruptcy Attorney
In our current economic climate, no one seems to be immune from financial problems. This is true for family farms and ranches, too. If your family farm is suffering from serious debt problems but has reliable sources of income, Chapter 12 bankruptcy may be an option to help your farm get out of debt.
Chapter 12 bankruptcy is a means to repay some or all of your debts while easing the pressure caused by your creditors. Jeffrey S. Arnold, Attorney at Law, has helped family farms in financial distress. Contact our law firm. We charge reasonable fees and offer a free initial consultation to discuss your financial situation.
Fort Wayne Chapter 12 Bankruptcy Attorney
Chapter 12 bankruptcy is for family farmers with serious debt problems but regular sources of income. Once your bankruptcy petition is filed, the "automatic stay" will commence. The automatic stay will prevent your creditors from contacting you or taking any action against you.
In Chapter 12, your farm will propose a repayment plan to pay your farm's creditors. The plan must take place over a three- to five-year period. In most cases, your repayment plan will not pay all of your creditors in full, although any repayment plan must repay secured creditors the value of their collateral. Once your plan is confirmed by the bankruptcy court, you will have to make payments according to the terms of the plan.
Any debtor seeking Chapter 12 bankruptcy must meet a number of requirements. Our law firm will ask you a number of questions in order to see whether Chapter 12, or some other form of relief, is right for your farm. Once we have an understanding of your situation, we will give you our knowledgeable advice on your best options. If Chapter 12 will work for your farm, we will prepare all of the necessary documentation, help you propose a repayment plan, and handle all discussions with your creditors and the bankruptcy trustee.
Contact Jeffrey S. Arnold, Attorney at Law, P.C. • 260-420-9600
Get good advice instead of wishing you had. Call or e-mail a lawyer at our law firm to discuss how the bankruptcy process can help save your family farm. Se habla español.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
