“Family Farmer Relief Act of 2019” Raises the Aggregated Debt Limit For Chapter 12 Bankruptcies

Combine harvesting soybeans. Image is by United Soybean Board.

The article is not a substitute for legal advice.

            Congress has recently passed and the President has signed the Family Farmer Relief Act of 2019.  This change in the law will raise the aggregated debt limit with Chapter 12 bankruptcies for family farms to $10 million up from the $4,411,400.  This increase in the aggregated debt limits will allow for more family farmers to qualify for the Chapter 12 bankruptcy option.  

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