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  • Home
  • About
    • Edward J. Gudeman
    • Brian A. Rookard
    • Katherine Shinn
    • Jon M. Silver
    • Staff
  • Practice Areas
    • Bankruptcy
    • Business Law
    • Estate Planning
    • – Durable Powers of Attorney
    • – Health Care Powers of Attorney
    • – Family LLC
    • Federal & State Tax
    • Probate
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Call us today : 248-927-2755

Filing for Chapter 12 Bankruptcy in Michigan

Bankruptcy Options for Family Farmers & Family Fisherman

If you are a family farmer or family fisherman with regular annual income who is seeking relief from mounting debts, Chapter 12 bankruptcy may provide you with the solution you need. A relatively new form of bankruptcy, Chapter 12 allows individuals, corporations, and partnerships to restructure their debt in order to avoid foreclosure and/or liquidation. All bankruptcy law is fairly complex, and Chapter 12 is no exception. It’s wise to seek the assistance of an experienced Chapter 12 bankruptcy attorney in Royal Oak and throughout Southeastern Michigan if you choose to pursue this form of debt relief. At Gudeman & Associates, P.C., our team has more than 100 years of combined experience, giving us the skills, resources, and legal know-how to guide you every step of the way.

Contact Gudeman & Associates, P.C. today at (248) 546-2800 to schedule your consultation with our team.

Do I Qualify for Chapter 12 Bankruptcy?

Enacted in 1986 by congress as a temporary, emergency measure to help family farmers and fisherman from increasingly constricting agricultural credit, Chapter 12 bankruptcy is used very infrequently. In order to qualify for this type of bankruptcy, you must meet certain requirements.

In order to qualify for Chapter 12 bankruptcy, you must:

  • Hold the occupation of “family farmer” or “family fisherman”
  • Gain “regular annual income” from farming or commercial fishing
  • Obtain more than 50% of your total gross income from farming or fishing
  • Not have total debt exceeding $4,153,150 (farmers) or $1,924,550 (fisherman)
  • Owe 50% of your total debt from farming operations or 80% from fishing operations

For farming and commercial fishing businesses owned through corporations or family partnerships, further restrictions apply. If you are unsure if you qualify for Chapter 12 bankruptcy, one of our skilled Southeastern Michigan Chapter 12 bankruptcy attorneys can look at your situation and determine if you are a candidate.

Over a Century of Combined Legal Experience

At Gudeman & Associates, P.C., we have more than 100 years of combined experience. Our team of Royal Oak bankruptcy lawyers can help you through the entire legal process—from determining if you qualify for Chapter 12 bankruptcy to handling all necessary paperwork and helping you file. We provide compassionate, personalized legal services so you can focus on regaining control over your finances and preparing for the future.

Schedule your no-obligation consultation with our team today—call us at (248) 546-2800 to get started.

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Client Review

“Went to see Ed Gudeman for a Will and Testament. Mr. Gudeman explained about Wills versus Trusts and all the laws surrounding each and what would be best for our situation. We were amazed how much information needs to be collected to use in the trust. It took about 6 weeks to compile everything and then a draft copy was given to us to read and correct any mistakes,errors or changes. Working with the legal assistant Samantha was very easy and reassuring. I will recommend Gudeman and Associates to anyone that needs their Will or Trust set up.”
Lori M
Client Review

Gudeman & Associates, P.C.

401 N. Main Street
Royal Oak, MI 48067
(248)-927-2755

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Let’s Talk AboutYour Financial Future. Call For A Consultation.

For trusted help in matters of bankruptcy, estates, business, taxation or real estate, we encourage you to contact us for a no-obligation consultation. During our first meeting at our Royal Oak office, over the phone or via videoconference, you will be introduced to your main point of contact who will work closely with you throughout your case. We will take the time to listen to your story, answer your questions and develop a plan for success. No judgment, just advice geared toward your financial goals backed by decades of experience.

Please call 248-927-2755 or send us an email to learn more or to schedule an appointment. We look forward to serving you.

Attorney Edward J. Gudeman

Edward J. Gudeman

Attorney Brian A. Rookard

Brian A. Rookard

Attorney Katherine Shinn

Katherine Shinn

Attorney Jon M. Silver

Jon M. Silver


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Gudeman & Associates, P.C.

Contact The Office

Address

401 N. Main Street
Royal Oak, MI 48067

Phone

New Clients: 248-927-2755
Existing Clients: 248-546-2800
Royal Oak Office

New Clients: (248)-927-2755
Existing Clients: (248) 546-2800
ejgudeman@gudemanlaw.com 401 N. Main Street
Royal Oak, MI 48067

Also Serving: Southfield MI
Warren MI
Troy MI Fenton MI

Business Hours:
Monday-Thursday:
8:30am-5:00pm
Friday: 8:30am-1pm
Saturday-Sunday: CLOSED

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401 N. Main Street
Royal Oak, MI 48067

(248)-546-2800
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