Chapter Twelve Bankruptcy Law

Chapter Twelve Bankruptcy

Chapter Twelve Bankruptcy Law:

Chapter Twelve Bankruptcy is specially designed for "family farmers" or "family fishermen" with specified annual income that can not pay their debt. Chapter Twelve bankruptcy enables farmer and fishermen families to propose and carry out a plan to repay all or part of their debts over a period of three or five years. Chapter Twelve bankruptcy eliminates many of the barriers that other debtors face when seeking to reorganize under either chapter eleven or chapter thirteen of the Bankruptcy Code.

Filing Chapter Twelve Bankruptcy Legal Issues:

Chapter 12 bankruptcy is less complex than chapter 11 bankruptcy. Chapter Twelve bankruptcy is the only temporary bankruptcy law in effect. In the absence of Chapter Twelve, insolvent farmers' bankruptcy options included reorganization under Chapter 11 or chapter 13, or even consider liquidation under Chapter Seven.

What a Bankruptcy Lawyer can do for you:

Chapter Twelve bankruptcies are different from other types of bankruptcy; therefore, it is important to talk to a Chapter Twelve bankruptcy lawyer with experience in dealing with farmer and/or fishermen families. Not any attorney can help you with a chapter 12 bankruptcy, you need to select an attorney that has experience in chapter Twelve bankruptcy.

Lawyer Referral Service:

If you qualify for chapter Twelve bankruptcy and are experiencing financial difficulties, Attorney Search Network can assist you in finding the right chapter Twelve bankruptcy lawyers for your legal need.

Attorney Search Network can provide you with an attorney referral you to a pre-screened Chapter Eleven bankruptcy lawyer in your area today.