Chapter 12, Title 11, United States Code

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Chapter 12 refers to Chapter 12 of Title 11 of the United States Code, a chapter of the Bankruptcy Code. This chapter of the Bankruptcy Code is available only to family farmers and fishermen in certain situations. It is similar to Chapter 13 in some ways, but in other ways benefits farmers and fishermen in ways other than that which is available to ordinary U.S. wage earners.

As recently as mid-2004, Chapter 12 was scheduled to expire, but in late 2004 it was renewed and made permanent.

Some practitioners believe Chapter 12 to be a sop for farmers who would otherwise be held in the same state of contempt as attributed to persons who file under the comparable Chapter 13.

[edit] 2003 Statistics

Bankruptcy filings by individuals:

Bankruptcy filings by businesses:

The total number of bankruptcies rose 7.4 percent over the previous twelve months. These totals were for the 12-month period ending September 30, 2003.

Source: November 14 2003 News Release, Administrative Office of the U.S. Courts. (External link to PDF file: [1])

[edit] 2004 Statistics

TOTAL bankruptcies:

Bankruptcy cases filed in federal courts fell 2.6 percent in fiscal year 2004 according to the Administrative Office of the U.S. Courts. During the 12-month period ending September 30, 2004, 1,618,987 bankruptcies were filed, down from the 1,661,996 bankruptcy cases filed in fiscal year 2003.

Source: November 14 2003 News Release, Administrative Office of the U.S. Courts. (External link to PDF file: [2])

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