Busted But Not Responsible? Tips For Your Defense

If you've been arrested for a crime you didn't commit, you need to defend your legal rights. You have the right to an attorney who can help you present your case. After being wrongly accused of something myself, I learned quickly how to navigate the legal avenues to have my case dismissed. My attorney was a great resource for building the case, and because of my understanding of the law, it worked. I created this site to share what I learned along the way and some other great tips for others who have been wrongly accused and arrested for a crime.

Bankruptcy Designed Specifically For Farmers: 3 Benefits Provided By Chapter 12 Bankruptcy

Law Blog

Americans farmers that earn a regular income but are struggling financially have the option to file for bankruptcy under chapter 12. Chapter 12 bankruptcy is similar to chapter 13 in the sense that it is based around a repayment plan with installments made to creditors every 3 to 5 years. Although it is similar to chapter 13 bankruptcy, repayment plans need to be more detailed. The extra time and effort needed to file for bankruptcy under chapter 12 is worth it, as chapter 12 bankruptcy can offer many additional benefits. Here's 3.

Flexible Payment Plan Terms

Under chapter 13, repayment plan payments are usually made monthly to creditors. This may not be suitable for farmers, as their income may be based around farm production cycles. Although repayment plan terms and conditions are generally more detailed for chapter 12 bankruptcy, farmers have more leeway to alter and adjust how the payments will be made based on their own income cycle.

Extensive Cramdown Rights without the Risk of Asset Liquidation

One of the major benefits of filing for bankruptcy under chapter 12 is the ability to take advantage of extensive cramdown rights. This means that the farmers are able to reduce the principal balance of any debt that they owe on assets to the value of the asset. For example, the value of the farmland may be less than what is owed. If this is the case, farmers are able to reduce the amount they owe to simply the value of the farmland. Many assets are eligible for extensive cramdown rights under chapter 12 bankruptcy.

In addition to being able to reduce debt owed on assets, farmers are able to keep their assets without the fear of liquidation.

Ability to Avoid Means Test and Credit Counseling Requirement

Although an extensive and detailed repayment plan must be approved by the bankruptcy courts, this chapter of bankruptcy gets easier after the approval process. There are no means test involved with calculating whether farmers are eligible to file under chapter 12. In addition, further credit counseling is not required.


Farmers who are ready to file for bankruptcy should speak to a bankruptcy attorney as soon as possible to determine whether chapter 12 is suitable for their needs and expectations. A bankruptcy attorney can help prepare all of the documents needed to successfully file for bankruptcy, and also advise clients on how to approach the legalities involved with filing for bankruptcy.


29 February 2016