Abstract

http://ssrn.com/abstract=788889
 
 

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Phantom Farmers: Chapter 12 of the Bankruptcy Code


Katherine M. Porter


University of California - Irvine School of Law


American Bankruptcy Law Journal, Vol. 79, p. 727, 2005
U Iowa Legal Studies Research Paper No. 05-21

Abstract:     
In the heated debate surrounding the recent reforms to America's bankruptcy laws, Congress' decision to make Chapter 12 (a specialized type of bankruptcy relief available only to farmers) a permanent part of the Bankruptcy Code was widely heralded as a positive step for rural Americans. However, empirical evidence shows that very few farmers actually use Chapter 12 and that bankruptcy relief has not and cannot halt the decline in family farming. A vast majority of rural Americans are not farmers and will not be helped by Chapter 12. Instead, these families will face increased hurdles to filing for bankruptcy relief under the recent reforms to the generally applicable consumer bankruptcy laws. This Article analyzes the amendments to Chapter 12 and argues that America's rural families remain vulnerable to financial failure as policymakers continue to conflate the agricultural and rural economies.

Number of Pages in PDF File: 15

Keywords: bankruptcy, agriculture, farming, rural

JEL Classification: K29, O13, Q10, Q14, R11

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Date posted: August 25, 2005  

Suggested Citation

Porter, Katherine M., Phantom Farmers: Chapter 12 of the Bankruptcy Code. American Bankruptcy Law Journal, Vol. 79, p. 727, 2005; U Iowa Legal Studies Research Paper No. 05-21. Available at SSRN: http://ssrn.com/abstract=788889

Contact Information

Katherine M. Porter (Contact Author)
University of California - Irvine School of Law ( email )
535A Administration
Irvine, CA 92697-1000
United States
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