Chapter 12 Bankruptcy Lawyer for Maine Farmers and Fishermen
Discuss Your Options With an Experienced Attorney
If you feel like you are drowning in debt, or your business is failing and it seems like there is nowhere to turn, call McCue Law Office in Bangor, ME, as soon as possible. We can help you find the best solution to your financial problems, as well as offer you the best legal services during the entire process of your case. When your business is underperforming due to strains in the economy, or you have suffered an unexpected loss or influx of medical or other types of expenses, bankruptcy may be the best option for your future. We can help farmers, fishermen, lobstermen, and other business owners understand what route is right for them. To discuss your options with an experienced attorney, contact the law office of Carl D. McCue today!
Farmers and Fishermen Can File for Chapter 12 Bankruptcy
If you are a farmer or fisherman in the state of Maine and need to file for bankruptcy, Chapter 12 may be the best option for you. This type of bankruptcy is only available for fishermen, lobstermen, and farmers and operates like Chapter 13 bankruptcy. However, Chapter 13 only allows for a five-year limitation on property payment, whereas Chapter 12 bankruptcy allows farmers and fisherman the option to stretch the payments over the course of useable life for a boat, farm equipment, or other type of loan.
Call McCue Law Office for the Best Outcome for Your Bankruptcy
Recently, fishermen and lobstermen have been afforded the ability to exempt a boat up to 45 feet in length when filing for Chapter 12 bankruptcy in Maine. With the ever-changing legislature, it is important to hire a knowledgeable and experienced attorney to help you through the process of bankruptcy. There may be avenues that you did not know existed, and options that you didn’t know you had. Allow the dedicated professionals at McCue Law Office in Penobscot County, ME, to help you understand every aspect of bankruptcy before deciding to file. We offer free consultations, whether over the phone, via email, or in-person, and we are always working to ensure the best outcome for you and your business.