Bankruptcy For Farmers
Bankruptcy For Farmers

Bankruptcy Can Protect Your Farm’s Future

If your farm is in financial trouble, we know that you will do anything to protect it. While the idea of bankruptcy can be concerning, it may actually offer the solution you need. Declaring bankruptcy may help you reorganize debt, maintain ownership of your farm and regain control of your finances.

Hammerschmidt, Amaral & Jonas can help you file for Chapter 12 farm bankruptcy. Having served the South Bend community for more than 100 years, we understand the many state and local laws that govern agriculture and bankruptcy. One of our partner attorneys, R. William Jonas Jr., was named an Indiana Super Lawyer in bankruptcy and creditors’ rights. You can remain confident that our team understands your debt-relief solutions and will guide you through this overwhelming process.

Our legal team will explain the bankruptcy process so you can make the best decisions possible and proceed with confidence. Our lawyers will work hard to make the process unfold smoothly and efficiently.

How Does Chapter 12 Bankruptcy Work?

Family farmers who have fallen into unmanageable debt can file for Chapter 12 bankruptcy. This type of bankruptcy is designed to help farmers restructure their debts to avoid foreclosure or liquidation.

  • First, you meet with an attorney to discuss whether you qualify for Chapter 12 bankruptcy. Eligibility is based on your total amount of debt, your gross income and the percentage of debt.
  • Then, you file a petition for Chapter 12 with the bankruptcy court.
  • After petitioning, you and your lawyer will meet with a bankruptcy trustee who will oversee your case.
  • You and your trustee will create a repayment plan. These plans involve repaying your creditors over a three- to five-year period of time.
  • Finally, you will attend a confirmation hearing. The court will either approve or deny your Chapter 12 plan.
  • If the court confirms your petition, you can begin repaying your creditors according to the plan.

You Don’t Want To Sell; Neither Do We

Your farm is your pride and joy; protecting your farm is ours. At Hammerschmidt, Amaral & Jonas, we will do everything in our power to keep your farm under your ownership. We will not consider selling unless we have exhausted all other options. If a sale is in your best interests, our team will strive to obtain the most favorable arrangement possible.

Contact Us To Discuss Your Debt-Relief Options

Your farm’s best interests are our top priority. We are ready to help you protect your farm’s future. Schedule a consultation to discuss your debt-relief options. Call 574-400-8608 to talk with our team, or use our online scheduling form.

Bankruptcy Can Protect Your Farm’s Future

If your farm is in financial trouble, we know that you will do anything to protect it. While the idea of bankruptcy can be concerning, it may actually offer the solution you need. Declaring bankruptcy may help you reorganize debt, maintain ownership of your farm and regain control of your finances.

Hammerschmidt, Amaral & Jonas can help you file for Chapter 12 farm bankruptcy. Having served the South Bend community for more than 100 years, we understand the many state and local laws that govern agriculture and bankruptcy. One of our partner attorneys, R. William Jonas Jr., was named an Indiana Super Lawyer in bankruptcy and creditors’ rights. You can remain confident that our team understands your debt-relief solutions and will guide you through this overwhelming process.

Our legal team will explain the bankruptcy process so you can make the best decisions possible and proceed with confidence. Our lawyers will work hard to make the process unfold smoothly and efficiently.

How Does Chapter 12 Bankruptcy Work?

Family farmers who have fallen into unmanageable debt can file for Chapter 12 bankruptcy. This type of bankruptcy is designed to help farmers restructure their debts to avoid foreclosure or liquidation.

  • First, you meet with an attorney to discuss whether you qualify for Chapter 12 bankruptcy. Eligibility is based on your total amount of debt, your gross income and the percentage of debt.
  • Then, you file a petition for Chapter 12 with the bankruptcy court.
  • After petitioning, you and your lawyer will meet with a bankruptcy trustee who will oversee your case.
  • You and your trustee will create a repayment plan. These plans involve repaying your creditors over a three- to five-year period of time.
  • Finally, you will attend a confirmation hearing. The court will either approve or deny your Chapter 12 plan.
  • If the court confirms your petition, you can begin repaying your creditors according to the plan.

You Don’t Want To Sell; Neither Do We

Your farm is your pride and joy; protecting your farm is ours. At Hammerschmidt, Amaral & Jonas, we will do everything in our power to keep your farm under your ownership. We will not consider selling unless we have exhausted all other options. If a sale is in your best interests, our team will strive to obtain the most favorable arrangement possible.

Contact Us To Discuss Your Debt-Relief Options

Your farm’s best interests are our top priority. We are ready to help you protect your farm’s future. Schedule a consultation to discuss your debt-relief options. Call 574-400-8608 to talk with our team, or use our online scheduling form.

Let Us Find The Solution You Need.