Chapter 12 – Adjustment of Debts of a Family Farmer or Fisherman with Regular Annual Income
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Chapter 12 – Adjustment of Debts of a Family Farmer or Fisherman with Regular Annual Income is a specialized bankruptcy chapter in U.S. law that provides a streamlined process for financially distressed family farmers and fishermen to reorganize and repay their debts while continuing operations.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Chapter 12 – Adjustment of Debts of a Family Farmer or Fisherman with Regular Annual Income canonical | 1 |
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
bankruptcy chapter
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legal process ⓘ reorganization bankruptcy ⓘ |
| administeredBy | United States bankruptcy courts ⓘ |
| allows |
modification of secured claims under certain conditions
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restructuring of mortgage debt on farm property in some cases ⓘ |
| appliesTo |
family farmers
ⓘ
family fishermen ⓘ |
| basedOn | concept of regular income repayment plans ⓘ |
| benefit |
allows retention of farm assets in many cases
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offers protections tailored to seasonal income patterns ⓘ provides structured repayment to creditors ⓘ |
| codifiedAs | 11 U.S.C. §§ 1201–1231 ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| createdBy | United States Congress ⓘ |
| designedFor |
financially distressed family farmers
ⓘ
financially distressed family fishermen ⓘ |
| differsFrom |
Chapter 11 bankruptcy
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Chapter 7 bankruptcy ⓘ |
| feature |
automatic stay on collection actions
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court‑supervised repayment plan ⓘ reorganization rather than liquidation ⓘ streamlined bankruptcy process ⓘ trustee oversight ⓘ |
| goal |
avoid liquidation of family farms
ⓘ
avoid liquidation of family fishing businesses ⓘ |
| involves |
filing of a petition in bankruptcy court
ⓘ
submission of a proposed repayment plan ⓘ submission of schedules of assets and liabilities ⓘ |
| jurisdiction |
United States of America
ⓘ
surface form:
United States
|
| language | English ⓘ |
| legalBasis | Title 11 of the United States Code ⓘ |
| objective |
enable debtor to repay creditors over time
ⓘ
preserve ongoing farming operations ⓘ preserve ongoing fishing operations ⓘ |
| overseenBy | United States Trustee Program ⓘ |
| partOf |
United States bankruptcy law
ⓘ
surface form:
United States Bankruptcy Code
|
| purpose |
adjustment of debts
ⓘ
allow debtor to continue farming operations ⓘ allow debtor to continue fishing operations ⓘ reorganization of debts ⓘ |
| requires |
confirmation of a repayment plan by the bankruptcy court
ⓘ
meeting statutory definitions of family farmer or family fisherman ⓘ regular annual income ⓘ |
| similarTo | Chapter 13 bankruptcy ⓘ |
| targetGroup |
small to mid‑sized agricultural operations
ⓘ
small to mid‑sized commercial fishing operations ⓘ |
| typeOf | specialized bankruptcy relief ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.
Title 11 of the United States Code
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contains
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Chapter 12 – Adjustment of Debts of a Family Farmer or Fisherman with Regular Annual Income
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