Debt Relief For Farmers and Fishermen
Filing Chapter 12 bankruptcy in Florida? Bankruptcy lawyers Robert C. Bruner and Trey Wright can help. Free consultation. 850-385-0342.
Chapter 12 Bankruptcy Can Help Restructure Your Debts
At Bruner Wright, P.A., we understand that bankruptcy is not an easy, comfortable process. However, we also understand the power that it holds in restructuring your finances and giving you back the financial freedom you and your family or business deserve. Every bankruptcy case is going to have different circumstances revolving around it, no two situations are ever the same.
Our firm takes pride in our ability to discern these specific differences and plan around them to achieve the optimal results for your unique case! Our firm is unchallenged in its ability to produce the best-case scenario for your bankruptcy. If you are a farmer currently experiencing a rough financial situation, you’ll be relieved to know that the government has organized a unique chapter of bankruptcy for you! Like Chapter 13 and Chapter 11 bankruptcies, Chapter 12 bankruptcy allows you to propose a reasonable repayment plan to make regular installments to creditors over a 3-5 year period. This also allows priority and secured debts to be given preference when it comes to making payments.
Initial consultations are always free. Call us at 850-385-0342 to set up an appointment.
Eligibility for Filing
This chapter of bankruptcy is intended to be utilized by family farmers and family fishermen with access to regular annual income. The following is a summary of the criteria needed to qualify for a chapter 12 bankruptcy!
The percentage of fixed debt has to be related to commercial farming or fishing operations. This is 50% of debt for family farmers and 80% for commercial fishermen. Depending on the operation, generally, 50% of gross income from the previous tax year must come from the commercial operation. Obviously the couple or individual must operate commercial farming or fishing business There are more specific requirements that delve into total debts and other things, but this is a broad overview of the most general points. A corporation or a partnership that also does business in these specific operations can also access this type of bankruptcy, but they have their own set of specific requirements. Our firm would love to go over any specific details that pertain to your business and bankruptcy case!
Legal protections that specifically aid farmers and fishermen are few and far between, so it’s important to work with an experienced and skilled law firm in order to make use of everything available to you for financial relief. On filing for a 12 chapter bankruptcy, a stop is placed on your debt, giving you immediate relief to start to strategize, reorganize your debt, and most importantly, save your farming or fishing operation.
Our firm understands the stress behind losing your commercial fishing or farming business; a livelihood is no small matter and you need the backing of a firm that’s willing to fight for your family. With over 30 years of combined experience, the attorneys at Bruner Wright have valuable experience in working through bankruptcy cases. Choose the best in Florida to navigate these rough waters so that your commercial farming or fishing business can come out undamaged through the storm of financial troubles. Contact us today for a free consultation; we believe that when you hire a lawyer they should always be available for questions!