Advantages of filing for Chapter 12 bankruptcy

Posted on Tuesday, May 5th, 2015 at 6:00 pm    

Struggling farm or fishery owners in North Carolina may seek Chapter 12 Bankruptcy protection instead of filing for Chapter 7 or 11 bankruptcies.

Chapter 12 Bankruptcy is designed for fishery and farm owners who receives over 50% of his or her income from these businesses. Under Chapter 12, business owners are not at risk of having their assets liquidated. Unlike other bankruptcy protections, those who file for Chapter 12 have many privileges, including not being required to undergo credit counseling or a means test. Additionally, there may be more exemptions available to you.

The Raleigh lawyers at the Bradford Law Offices, PLLC, help financially struggling fishery and farm business owners who have decided to file for Chapter 12 Bankruptcy. Although you may feel overwhelmed by quickly accumulating debts, our lawyers may may be able to help you through this difficult time by guiding you throughout the bankruptcy process. Call our office today at (919) 758-8879 to discuss your particular case and learn about your legal options.