Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
Chapter 12 bankruptcy is a form of reorganization, in which you follow a payment plan to your creditors under the discretion of a bankruptcy court. It is quite similar to Chapter 13, the main form of reorganization bankruptcy for consumers, but is tailored only to certain individuals.
Because of the specific nature of their livelihoods, Chapter 12 is only for farmers and fishermen whose debt is comprised of at least 80% occupational costs, and who owe less than $1,500,000. Among the powers of Chapter 12 is the ability to release liens on property that is necessary for work.
Your bankruptcy court has much information on their website which may help answer alot of your questions. You can also contact the court for specific questions. Often times they will tell you to get an attorney, but you may find someone helpful if you try. I got this link relating to Chapter 12 from there:
There is also a section on how to file without an attorney, which I included here:
To initially file a Chapter 12, you prepare your bankruptcy petitions and schedules. The bankruptcy court has electronic filing, meaning that once you get the forms prepared you can file them electronically with the Court. You will have a 341 meeting, and a Confirmation Plan meeting, you will acutally start making payments according to your plan before you are confirmed. This is to show the court that you can make the payments.
Most attorney's have software for these forms, so it is easy for them to prepare and file. There is also software out there for purchase that you can use to file as well. I recommend getting the software if you truly decide to go without an attorney.
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