Bankruptcy Chapter 12

Chapter 12 is typically used for family farmers that do not have too much debt. This Chapter operates similar to a Chapter 13, but is tailored more for the family farmer or fisherman. If the farmer/fisherman has too much debt or otherwise does not qualify for a Chapter 12, the Chapter 11 probably would be the best choice.
Chapter 12 — Petition for Bankruptcy in Valdosta, GA
Chapter 12 Bankruptcy — Debt Relief in Valdosta, GA

Reasons for Filing Bankruptcy Chapter 12

  • To Stop Creditor Harassment
The automatic stay created upon filing a bankruptcy case prohibits creditors from taking any further collection action unless they obtain a relief from automatic stay. If the creditor continues to contact the Debtor or takes any collection action after receiving notice of bankruptcy, the creditor could be sanctioned by the court.
  • To Provide for an Orderly Repayment of Debt
Often times a Debtor is able to repay all of its debts, but not under the terms demanded by the creditor. In those instances, a Debtor can file a bankruptcy to allow the Debtor to propose the orderly repayment of debt that is not burdensome to the Debtor.
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