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Chapter 12
A chapter of the Bankruptcy Code specifically designed to address the financial restructuring of family farmers and fishermen.
Farmers
Individuals or entities engaged in the act of agriculture, growing crops and/or raising animals.
Unsecured Debts
Debts that are not backed by an asset or collateral, increasing the risk for lenders if the borrower defaults.
Chapter 7
A chapter of the U.S. Bankruptcy Code that involves the liquidation of a debtor's assets to pay off creditors.
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