Chapter 12 FAQs
Q: What are the eligibility requirements for Chapter 12?
A: Well, let's start with the fact that you must be a family farmer or fishermen. If you think you qualify, then you would need to show that over 50% of your last year's income was generated from the operation of a family farm or fishing operation.
Q: Why would I want to file Chapter 12 instead of Chapter 13?
A: Chapter 12 has a number of benefits not found in Chapter 13. The most commonly cited example is the ability to re-write certain contracts with creditors. Contact us for additional explanation, as this is a very complicated area of the law.