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Inside Washington

INSIDE WASHINGTON: Easing Chapter 12 bankruptcy rules

Restructuring farm bankruptcy rules could allow debts to exceed $10 million, offering greater assistance to struggling farmers.

In the ongoing depressed agricultural economy, a growing number of farmers are turning to Chapter 12 bankruptcy to manage their debt. While farmers continue to seek more help, Congress is also evaluating ways to offer additional assistance that eases the process of reorganizing debt by restructuring Chapter 12 bankruptcy rules in a way that makes more farms eligible.

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TAGS: Policy
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