Chapter 12 bankruptcy is designed for “family farmers” or “family fisherman” with regular annual income. This chapter enables financially distressed family farmers and fishermen to propose and carry out a plan to repay all or part of their debts. The debtor will work with the court/trustee to propose a repayment plan to make installments to creditors over three to five years.
Contact a bankruptcy attorney at Patel Law P.L.C. to schedule a consultation at (602) 266- 2169.