
Killeen & Waco, Texas Chapter 12 Bankruptcy Lawyer
Comprehensive Chapter 12 Bankruptcy Assistance in Waco, Killeen & Central Texas
Erin Shank, a Chapter 12 Bankruptcy Attorney, has successfully reorganized several family farmers. In 2011, she filed a Chapter 12 Plan that saved a family farm that had been in a rancher's family since 1850. A large bank and the Chapter 12 Trustee fought attorney Shank and her client in his reorganization attempts for over one year, but the Waco Bankruptcy Court ruled in the rancher's favor on virtually every issue, and his Plan of Reorganization was approved by the Bankruptcy Court over the bank's objections. Erin Baker Shank will always remember this case as one of the hardest fought and successful cases in her legal career. However, most family farms can be reorganized without such a long, protracted legal proceeding.
In 2000, Erin successfully filed and confirmed a Chapter 12 Plan for an 80-year-old farmer who grew strawberries and other berries in Central Texas. Erin never bites into a strawberry without remembering that special client and what an honor it was to reorganize his berry farm.
Considering Chapter 12? Speak with our Killeen & Waco bankruptcy attorney at Erin Baker Shank, P.C.. We serve Waco, Killeen, and beyond. Contact us online or dial (254) 690-4110.
What Is Chapter 12 Bankruptcy?
Chapter 12 bankruptcy is specifically designed to assist "family farmers" or "family fishermen" who have a consistent yearly income. It offers a solution to financially burdened family farmers and fishermen by allowing them to create and execute a repayment plan for some or all of their debts.
Chapter 12 bankruptcy is a specific type of bankruptcy law designed to reorganize the family farmer. Unfortunately, fewer and fewer family farms are able to survive in this challenging economy. Additionally, most of the produce and animals raised for consumption in the United States are raised in huge corporate farms. The family farmer is really a fading reality.
How Does Chapter 12 Bankruptcy Work?
Within the Chapter 12 framework, debtors develop a repayment strategy to distribute payments to creditors over a span of three to five years.
Typically, the plan requires payments to be made over a three-year period unless the court approves a longer-term "for cause." However, if the plan doesn't intend to cover 100% of domestic support claims (such as child support and alimony), if applicable, it must extend over a five-year period and encompass the debtor's entire disposable income. No circumstances permit a repayment plan to extend beyond a five-year period.
What Sets Us Apart
-
Practice Exclusively Dedicated to Bankruptcy Law
-
Affordable & Flexible Payment Plans
-
Over 40 years of Bankruptcy Experience
-
100% Virtual – Safe & Convenient
Listen to Erin Answer Your Questions!
-
What Makes You Uniquely Qualified as a Bankruptcy Attorney?
-
What is Chapter 10 Bankruptcy?
-
What to Do if Your Military Star Card Goes to Collections
-
What is a mortgage modification?



What Our Clients Say
Real Stories from People We've Helped Through Financial Hardship
At Erin Baker Shank, P.C., your satisfaction is our priority! See for yourself what our clients have to say about working with us.
-
“Our case had been dragging on for years, but once she stepped in, things moved efficiently and effectively. She worked diligently, stayed on top of every detail, and always made us feel like a priority.”Renee H.
-
I shopped around for a Bankruptcy attorney who would listen to my needs. As I am a retired military member of the U.S. Army, the staff at Erin B Shanks Office were friendly, personable, and knowledgeable. From beginning to end, the staff at Erin B Shank makes the process painless and easy. They answered all my questions and helped me when I did encounter a problem.Aaron C.
-
Ms. Shank and Sharlyn were absolutely fantastic! Very helpful, and knowledgeable and answered any questions or concerns we had. They truly pulled off a miracle. If you’re thinking of filing for bankruptcy, Ms. Shank is the woman for the job.Monique K.
-
A grumpy company decided not to negotiate a reduced settlement like the other 5 companies did, this caused us to be forced into choosing a lawyer for filing bankruptcy. My wife and I are extremely pleased with our wonderful Lawyer and her staff. Erin B Shank and her team handled the process with little hardship to us, they made processing the mountain of paperwork seem so simple. The resulting discharge of our debts lifted a heavy weight from our shoulders. If you find yourselves in need of a Lawyer Erin and her team are the best I have dealt with.Michael S.

-
Frequently Asked Questions
-
Read Our Reviews
-
Meet Your Attorney
