To adjust debt and institute a repayment plan, Delton, a family fisherman in the Gulf of Mexico, may file a petition in bankruptcy for relief under the Bankruptcy Code's Chapter

Question

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Chapter 12 of the Bankruptcy Code is specifically designed for family farmers and fishermen with regular income. It provides for adjustment of debts and allows for the debtor to propose a repayment plan. Therefore, Delton, as a family fisherman, would need to file for relief under Chapter 12 to adjust his debt and develop a repayment plan.

To Adjust Debt and Institute a Repayment Plan, Delton, a Family