Chapter 12 bankruptcy relief is specifically designed for family farmers and fishermen. Like Chapter 13, Chapter 12 bankruptcy is a reorganization type of bankruptcy premised upon helping distressed family farmers and fishermen.
Common reasons why people file for Chapter 12 bankruptcy include:
- The ability to re-write certain contracts with creditors;
- The ability to repay only a percentage of their indebtedness;
- The (potential) ability to remove a second mortgage.
If you are considering filing for Chapter 12 bankruptcy relief, or if you would like more information regarding its utility for you, please give us a call at (415) 508-7154.