Chapter 12 for Family Farmers and Fishermen
Chapter 12 bankruptcy was created specifically for family farmers and family fishermen in financial distress. Julianne Frank, Esq. serves struggling families in agriculture, aquaculture, and fishing businesses in South Florida who may be in danger of losing their farm or enterprise due to crushing debt. Chapter 12 allows the creation of a payment plan to pay off debts over 3-5 years at a pace that is within the business’ means, and it allows individuals owning farms and fisheries to reorganize their finances and debts while still maintaining ownership of their assets.
Chapter 12 is open to individuals or spouses operating farming or fishing enterprises, as well as family-owned partnerships or corporations where a large portion of their income and debts are tied to the farm or fishing operation. Visit the Chapter 12 Bankruptcy page on the firm’s website to see what qualifications an individual or corporation must meet in order to be eligible for Chapter 12.
Family-owned corporations will find Chapter 12 to be easier and less expensive than Chapter 11 bankruptcy, while individuals and spouses will find Chapter 12 more tailored to their specific needs than a Chapter 13 individual bankruptcy. An experienced attorney like Julianne Frank, Esq. can better assess the situation to help determine whether Chapter 12 may benefit an individual’s particular circumstances.
Chapter 7 Liquidation
Chapter 7 bankruptcy is usually filed when a company is closing its doors. Chapter 7 provides an orderly process for winding down a business, liquidating assets, paying creditors, and tying up loose ends without leaving the business owner exposed to company debts, liabilities, collections, or lawsuits. When a business owner decides to shut down the business, Chapter 7 may be a worthy consideration to resolve any lasting financial matters for the final close.
Contact Julianne Frank, Esq. Today
If you are a business owner in Palm Beach County who is experiencing financial difficulties and looking for effective solutions, contact the Jupiter business bankruptcy attorney Julianne Frank, Esq. for legal counsel. Attorney Frank has extensive experience working with small businesses to resolve the financial crises they’re facing, and you can trust her to handle your case seriously and professionally. Note that Attorney Frank works hand-in-hand with her clients; you should be ready to dedicate significant time to your own case by compiling all the necessary financial information if you want her skilled and knowledgeable litigation techniques on your side.