Chapter 12 is a specific chapter directed at assisting the family farmer or fisherman with a difficult debt situation. It is a reorganization or “adjustment” similar to Chapter 13 except that it has unique provisions to address the financial needs of this particular group taking into account the seasonal nature of the activity of farming and fishing and the typically higher debt load.
Chapter 12 petitions are rare in New Hampshire. Only persons who derive significant income from farming or fishing operations are eligible to file Chapter 12. For these individuals, however, a Chapter 12 is far preferable to a Chapter 11 to which they might otherwise be consigned if there were no Chapter 12.
Deming Law Office has experience in Chapter 12 cases and is prepared to assist individuals requiring it.