CHAPTER 12 Bankruptcy Relief When filing for bankruptcy, you should choose the kind of bankruptcy that best suits your needs. It is important you understand that the names by which a bankruptcy case is called such as Chapter 7, Chapter 11, Chapter 12, and Chapter 13 refer to the chapter in which the type or method of bankruptcy is found within the United States Bankruptcy Code. A Chapter 12 bankruptcy is like a Chapter 13, but Chapter 12 was specifically designed for "family farmers" or "family fishermen" with "regular annual income." It enables financially distressed family farmers and fishermen to propose and carry out a plan to repay all or part of their debts very similar to a Chapter 13 case. The purpose of the "regular annual income" requirement is to ensure that the debtor's annual income is sufficiently stable and regular to permit the debtor to make payments under a Chapter 12 plan. But Chapter 12 makes allowance for situations in which family farmers or fishermen have income that is seasonal in nature. In tailoring bankruptcy law to meet the economic realities of family farming and the family fisherman, Chapter 12 eliminates many of the barriers such debtors would face if seeking to reorganize under either Chapter 11 or 13 of the Bankruptcy Code. For example, Chapter 12 is more streamlined, less complicated, and less expensive than Chapter 11, which is better suited to large corporate reorganizations. In addition, few family farmers or fishermen find Chapter 13 to be advantageous because it is designed for wage earners or individuals will regular monthly income and who have smaller debts than those facing family farmers. The attorney’s fees for this type of Bankruptcy are $955.00 and the court filing fee is $239.00. We are a debt relief agency. We help people file for relief under the Bankruptcy Code.