To adjust debt and institute a repayment plan,Rolf,a family farmer,may file a petition in bankruptcy under the Bankruptcy Code's Chapter

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Chapter 12 of the Bankruptcy Code is specifically designed for family farmers or family fishermen who have a regular annual income. This chapter allows them to adjust their debts and implement a repayment plan over a period of time. Chapter 7 is a liquidation bankruptcy and may not be the best option for Rolf as he likely wants to keep his farm. Chapter 11 is typically used for businesses, but it may be too expensive and complicated for a small family farm. Chapter 13 is for individuals with regular income, but it has debt limits that may not be suitable for a family farmer with significant agricultural debt. Therefore, Chapter 12 is the best choice for Rolf.

To Adjust Debt and Institute a Repayment Plan,Rolf,a Family Farmer,may