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Chapter 12 Bankruptcy

Florida Lawyers Guide Farmers and Fishermen Through Chapter 12 Bankruptcy

Plantation attorneys obtain debt relief for family operations

Weather and other natural circumstances can cause great financial harm to family farmers and fishermen. People who rely on the land and sea to make their living cannot control these factors, but a special type of bankruptcy relief is available if they need help relieving their debt problems. At Miller, Hollander & Jeda, we guide clients through the Chapter 12 bankruptcy process so that they may safeguard their operation and manage their financial obligations in a reasonable manner. In comparison to other types of bankruptcy, Chapter 12 is a relatively new program, but our attorneys have detailed knowledge of the requirements and procedures necessary to obtain effective relief.

Skilled advocates establish repayment plans and reduce costs

In many ways, Chapter 12 bankruptcy resembles Chapter 13 as both processes enable applicants to establish a repayment plan. Chapter 12 clients may also obtain reductions in the amount that they owe to various creditors. During a free initial consultation, we can explain each aspect of the process, including:

  • Regular income from farming or fishing — Most people are not eligible for this type of bankruptcy. You have to derive at least half of your gross income from your farming or fishing revenue.
  • Percentage of debt — At least half of a Chapter 12 farmer’s debt must be related to his agricultural operations. For commercial fisheries, the business-related portion of the debt must be at least 80 percent. These calculations exclude any debt related to a home mortgage.
  • Submission of repayment plan — We will create a fair repayment plan that may set forth terms that enable you to stay in business and resolve your obligations. The court reviews the plan to determine if it meets the best interests of the creditors under the specific circumstances.
  • Discharge of debts — If the plan is approved, you can move ahead according to the repayment schedule confirmed by the bankruptcy judge.

We take great pride in helping farmers and fishers — vital producers in Florida and across the country — to regain a strong financial foundation through Chapter 12 bankruptcy relief.

Contact an aggressive Florida Chapter 12 bankruptcy lawyer for a free initial consultation

Miller, Hollander & Jeda represents clients throughout the Fort Lauderdale area in Chapter 12 bankruptcy proceedings and other debt relief matters. Please call 954-919-2187 or contact us online to schedule a free initial consultation at our Plantation office.