Answer:

People often ask us who is eligible to file a Chapter 12 bankruptcy in Georgia. First of all, you have to be a farmer. The definition of a farmer is that 50% of your debts are farming related debts and at least 50% of your income comes from farming. Then there are also debt limitations for a Chapter 12. When the debt limitations occur, you’re around $4.2 million, so if your debts are higher than $4.2 million, you may have to go to a Chapter 11. You could still be a farmer in a Chapter 11, but a Chapter 12 is an expedited procedure for farmers to file a bankruptcy. You do have certain debt limitations and certain qualifications. If you need any more information about who is eligible and who is not eligible, please give our office a call.