Chapter 12 Bankruptcy For Farmers And Farm Businesses

Charles L. Smith  filed the first Chapter 12 bankruptcy for a farmer in the Southern District of Iowa in 1986. Telpner Peterson has been helping distressed farmers ever since.

Recent trends in Iowa and Nebraska farming demonstrate that a period of prosperity is coming to a close. Volatile commodity prices, problems between farmers and lenders and heavy debt burdens lead to financial crises for many who make their living in agriculture. Family farms and other types of farming enterprises such as grain elevator operations are struggling — sometimes to the point of bankruptcy.

Farmer Representation In Bankruptcy

Chapter 12 bankruptcy provides viable debt relief for farmers. This type of bankruptcy allows financially ailing farmers and farm corporations a way to cope with millions of dollars of secured debt. These high debt loads are not uncommon for farms that operate with the use of very costly equipment such as combines.

Financially stressed farmers and agribusiness owners turn to Telpner Peterson Law Firm, LLP, for debt relief advice and solutions suitable for their unique circumstances. Chapter 12 bankruptcy enables many farms to stay afloat through a customized debt reorganization plan. Such a plan can also address the tax consequences of divesting for those who opt to get out of farming altogether. Let us help you structure an orderly liquidation and shutdown of your farm business in Iowa or Nebraska if ending your operation is your best option.

Experienced Bankruptcy Lawyers Representing Debtors And Creditors

Attorney Charles L. Smith of our office has close to 40 years of experience as a bankruptcy trustee. He understands the respective interests of debtors, creditors and bankruptcy trustees. A member of the American Bankruptcy Institute and the National Association of Bankruptcy Trustees, he stays up to date on current trends and practices. He also served for three years as the chair of the Iowa State Bar Association’s Commercial and Bankruptcy Law Section.

Attorney Nicole Hughes also represents both debtors and creditors in Chapter 12 bankruptcy proceedings. Nicole is a member of American Bankruptcy Institute and she has served as the state chair of the National Association of Consumer Bankruptcy Attorneys.

Both of our bankruptcy attorneys understand the challenges that farmers and farm business owners experience as they approach and go through the processes of bankruptcy. They welcome the opportunity to evaluate your case and recommend the best course of action.

Contact A Chapter 12 Bankruptcy Law Attorney In Council Bluffs, Iowa (IA)

To schedule a consultation with a lawyer regarding bankruptcy for farmers and agricultural businesses in Iowa or Nebraska, send an email to Telpner Peterson Law Firm, LLP, or call 712-325-9000.