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Bankruptcy

: Bankruptcy Law Network

What?s a ?family farmer?? Someone who can file Chapter 12

By David Leibowitz, Illinois and Wisconsin Bankruptcy

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Chapter 12 is a little known part of the Bankruptcy Code that can be exceptionally helpful to family farmers and family fishermen. Under chapter 7, debtors discharge all of their debt but lose all of their non-exempt assets. Under chapter 13, debtors keep all of their non-exempt assets but devote 5 years of disposable income toward [...]

Full post as published by Bankruptcy Law Network on December 22, 2009 (boomark / email).

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