Word: Family farmer
Definition:
A person or entity engaged in farming who meets specific criteria to file for Chapter 12 bankruptcy.
Sample Sentence:
The court confirmed the Chapter 12 plan filed by the family farmer.
Why It Matters:
Allows family farmers to reorganize debts under tailored bankruptcy rules.
Quick Tip:
Eligibility depends on income, debt levels, and type of farming operations.
Source: https://www.uscourts.gov/glossary
Leave a Reply