Keeping a Business After Chapter 12 Bankruptcy in Georgia

Watch this video about keeping a business after Chapter 12 Bankruptcy in Georgia. Please contact Hall & Navarro right away.

Question:

Will I lose my business if I file for chapter 12 bankruptcy?

Answer:

A question that everyone is Keeping a Business After Chapter 12 Bankruptcy in Georgiaconcerned with in filing a Chapter 12, which is a farmer bankruptcy in Georgia, is whether they will lose their farming business. The whole idea behind a Chapter 12 is to give the farmer a good opportunity to save his business. It allows you to stretch out your debts and allows you to categorize creditors as to who gets paid when, how, and how much. It allows trustee payments to be made to fund certain creditors. It allows for you to schedule your payments to correlate with your crop, your government payments, and things like that. The whole idea behind a Chapter 12 is to preserve the farm, and that is the whole intent of a Chapter 12 bankruptcy. It is a farmer reorganization. If you have any questions, I’d be happy to answer any further questions that you may have.


Are you or a loved one in the process of filing for bankruptcy in Statesboro or Springfield and have questions about keeping a business after Chapter 12 Bankruptcy in Georgia? Contact the experienced Georgia bankruptcy attorneys at Hall & Navarro today for a consultation and case evaluation.

We can help get your life back on track.

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