Filing for Chapter 12 Bankruptcy in Portland?
Professional Help Navigating the Bankruptcy Process
If your farm or fishing operation is struggling under significant debt, you may feel hopeless. You may feel like you are about to lose a business that your family has run for years.
Fortunately, you still have options. Chapter 12 bankruptcy allows you to reorganize your financial affairs so that you can handle your debt successfully. A trustee will be assigned to monitor your case and collect your plan payments for your debtors. However, you will remain in possession and control of your operation.
Chapter 12 can help protect your operation from collapse due to:
- Repossession of assets
- Other debt collection activity
At Vanden Bos & Chapman, LLP, we have been helping clients with debt issues and bankruptcy since 1981. We have a broad range of experience with both individual and business bankruptcy, and we are here to help. We offer same-day appointments so you can get started with your filing today.
You do not have to lose the family farm or fishing business. For help filing a Chapter 12 bankruptcy, contact Vanden Bos & Chapman, LLP at (503) 664-3134 today.
What to Expect in a Chapter 12 Bankruptcy Filing
You should maintain your ordinary course of business before a Chapter 12 filing, even after hiring a Portland lawyer. Making any unusual purchases or expenditures can prejudice the court against you.
During a Chapter 12 bankruptcy, you will work with your attorney to create and file a plan of reorganization. The plan is a short, three-page form that details how you will deal with your debt and repay your creditors.
Creditors do not vote on this arrangement. Instead, it is reviewed and approved by a bankruptcy judge. After your plan is approved, you make payments according to the agreement to the Chapter 12 trustee assigned to your case.
How Our Portland Bankruptcy Attorneys Can Help
Navigating a Chapter 12 bankruptcy can be complicated, but a qualified lawyer makes it much easier. We can work with you to answer questions, navigate the court’s process, and help you overcome creditor objections.
For an appointment regarding your farming or fishing operation, give us a call at (503) 664-3134 or contact our firm online.