Farmer filing for bankruptcy

March 3rd, 2015 by Questions

I am a full time farmer and looking at filing bankruptcy. I do not have any other job. I owe a large debt on my property as well to other creditors. Is it true I maybe able to keep my property due to me being a full time farmer filing for bankruptcy?

Posted from: British Columbi


One Response to “Farmer filing for bankruptcy”

, Desmond West-Chow, CIRP said:

From what you’ve told me, I will assume your property is secured, or has been offered as collateral for debts that you have. Typically, if you wish to keep your property, you’ll need to have discussions with the secured lenders (those that have registered on title for your property and have used it as collateral for their debts). I would also recommend speaking to a local trustee about the exemptions of property in your area as they may be a consideration on keeping your property if the full value of it isn’t being used as collateral or security.

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