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Chapter 12 Bankruptcy
A type of bankruptcy specifically designed for family farmers and fishermen, allowing them to restructure their finances and pay off their debts over a period of time.
Farm Related
Pertaining to agriculture and activities directly connected to farming and cultivation.
Insolvent
The condition of being unable to pay debts as they fall due, or having liabilities exceed assets.
Nondischargeable Debts
Debts that cannot be discharged or eliminated through bankruptcy proceedings, requiring the debtor to fulfill these obligations.
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