Serving Clients Throughout Tennessee and North Georgia
If you are a family farmer or fisherman with excessive debt that is farming/fishing-related, Chapter 12 bankruptcy may allow you to stop debt collection activities while getting your debt under control. At the Law Office of W. Thomas Bible, Jr., we can help you determine if Chapter 12 bankruptcy is right for you. We provide experienced bankruptcy representation to businesses and individuals from Chattanooga and throughout Tennessee and North Georgia.
Contact us today online or by telephone at 423-424-3116 to arrange a consultation with an experienced Chattanooga Chapter 12 bankruptcy attorney.
The Chapter 12 Bankruptcy Process
After filing for Chapter 12 bankruptcy, the debtor must provide the trustee with a complete list of his or her liabilities and assets within 15 days. Within 90 days, the debtor must file a repayment plan, detailing how creditors will be repaid. The debtor must also attend a meeting with the trustee and creditors.
In order to be eligible for Chapter 12 bankruptcy, the following circumstances must apply.
- At least half of the farmer’s or fisherman’s gross income must have been from farming/fishing the previous year
- At least 80 percent of the debt must be farming/fishing-related
Furthermore, you must earn enough income to be able to make debt payments over a three-to-five year period. Our attorneys have successfully handled numerous Chapter 12 bankruptcies for clients throughout the region. We will work with you personally to help you achieve your debt relief goals.