For most laypeople, the term ‘bankruptcy’ brings to mind images of big business. Rarely is bankruptcy considered in relation to our local family farmers and family fishermen. Just because it isn’t the standard stereotype, however, doesn’t mean it’s irrelevant to these particular family businesses that operate outside of the traditional business scene. Chapter 12 bankruptcy is a specialized option for family farmers and family fishermen struggling with their finances. Marshall, MN area fishers and farmers in need of bankruptcy support can count on the team at Behm Law Group to help carefully and compassionately guide them through the Chapter 12 bankruptcy process.
Chapter 12 Bankruptcy
Family farmers and family fishermen play an important role in Minnesota culture. Thanks to the abundant, fertile lands and pristine, plentiful lakes found in Minnesota, our state can proudly boast a wide variety of agricultural and fishing ventures. While our ecosystem seems well suited to supporting both industries, at times, it can still be difficult to thrive in ever-changing and challenging markets. Even lifelong fishermen and farmers can find themselves struggling after a year of particularly low yields, and occasionally these difficulties can result in a need for financial relief.
Chapter 12 bankruptcy specifically caters to family farmers and family fishermen. If you are unable to pay your debts or maintain your land due to financial difficulty, bankruptcy may be the solution you need to get back on track.
A Customized Repayment Schedule
While it can be difficult to think of Chapter 12 bankruptcy as a solution rather than a financial end point, it truly can be a way forward. At Behm Law Group, our bankruptcy support team can help you plan and organize a regular payment plan to address your outstanding debts. Utilizing Chapter 12 bankruptcy allows you to forge a path forward. Our bankruptcy support professionals can guide you through the entire bankruptcy process, including preparing the necessary documents, navigating the legal language, and learning how to manage debtors and fees throughout.
If your family farm or family fishing business is struggling, bankruptcy support from Behm Law Group can help you start to plan a better financial future. Marshall, MN area farmers and fishermen can contact us today at (507) 387-7200, send us an email, or visit our website.