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October 2018 Archives

Farm specific bankruptcy protections

You are likely familiar with a chapter 7, or liquidation bankruptcy, and a chapter 13 personal or consumer bankruptcy where a person’s debts are reorganized to repay creditors by a proportional share of the debtor’s income and assets. However, because of the unique nature of agricultural and fishing operations, in the 1980's a new section of the bankruptcy code was written. 

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