Bipartisan Legislation in the House for Bankruptcy and Chapter 12

Photo Toledo Blade

The House passed bipartisan legislation, H.R. 2336, the Family Farmer Relief Act which was introduced by Rep. Antonio Delgado, a Democrat from New York, along with House Judiciary Committee ranking member Jim Sensenbrenner a Republican from Wisconsin, House Agriculture Committee chairman Collin Peterson, a Democrat from Minnesota along with TJ Cox from California, and Republicans Kelly Armstrong from North Dakota and Dusty Johnson from South Dakota.

The Relief Act is to ease the process of reorganizing debt through Chapter 12 bankruptcy rules.

In 2018 per the National Farm Bureau, 498 farms filed for Chapter 12 bankruptcy while 766,000 consumers filed under Chapters 7 and 13.

Over the last 10 years, Chapter 7 and Chapter 13 have seen 10 million total filings, compared to just 5,000 Chapter 12 filings per

Attorney Alex Hernandez

Representing clients in the areas of Chapter 7 Bankruptcy, Family Law/Divorce, and car and motorcycle accidents for 20 years. (904) 712-5565 or (305)-688-LAWS (5297). *Se Habla Español

%d bloggers like this: