Bankruptcy Protection for Family Farmers and Fishermen
“Family Farmer Bankruptcy”
Family farmers and fishermen are an integral part of the Maine economy. In tough economic times, family farmers and fishermen face a unique set of financial challenges. Chapter 12 bankruptcy is specifically designed for family farmers and fishermen experiencing financial hardship.
Chapter 12 versus Chapter 13
Chapter 12 bankruptcy is similar to Chapter 13 bankruptcy in that the debtor files a plan for reorganizing his or her debts then, upon approval of the plan by the Court, makes regular plan payments to the Trustee until the plan is completed and the debtor's debts are discharged.
The biggest procedural difference between Chapter 12 and Chapter 13 bankruptcy is that Chapter 12 allows a debtor 90 days to file his or her plan after filing a petition for bankruptcy, whereas Chapter 13 requires that the plan be filed within 15 days of filing the petition.
Filing for Chapter 12 Bankruptcy in Maine
In order to file for Chapter 12 bankruptcy, you must meet the Bankruptcy Code's definition of a family farmer or fisherman. For more information about who qualifies for Chapter 12 bankruptcy and what filing for Chapter 12 bankruptcy involves, read our article on the Process of a Chapter 12 Bankruptcy.
Schedule an Appointment
If you are a farmer or fisherman and are wondering whether a Chapter 12 reorganization can help you protect your assets and emerge from debt, please schedule an appointment to meet with us. Molleur Law Office has assisted individuals and small businesses through the bankruptcy process in Maine for over 30 years.
Molleur Law Office, Biddeford419 Alfred Street |
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Molleur Law Office, Portland
537 Congress Street, Suite 411 |
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What our clients are saying
Jim, I want to thank you for all your help and believing in me. it has been a tough road but I am slowly coming around the corner. Merry Christmas & Happy New Year! Thanks Again, Regards Mike
NOTE: Molleur Law Office cannot offer specific debt relief advice or bankruptcy representation through
online or phone communications. Contact: (207) 283-3777, or email info@molleurlaw.com to set-up a Debt Relief Consultation.
James F. Molleur, Tanya Sambatakos, Andrea Stark, Jennifer Hayden and Barry Schklair, bankruptcy lawyers located in Portland, ME and Biddeford, Maine —certified in Maine as a bankruptcy specialist by the American Board of Certification. Licensed bankruptcy attorneys serving Maine and Massachussets. Molleur Law Office - James F. Molleur—Maine Debt Relief Agency and bankruptcy counseling for individuals & businesses in Biddeford, Portland, Sanford and throughout Southern Maine. Maine's only certified Consumer Bankruptcy Law Attorney also offers assistance to prevent foreclosure, file Chapter 7, Chapter 13 and more. The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.