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Dealing with Financial Stress on Texas Farms andRanches—Bankruptcy and Non-Bankruptcy Alternatives

Danny Klinefelter and, Jason McMillin (October, 2013)

Summary

Alternatives for dealing with financial stress include doing nothing, changing in the operation, voluntary debt restructuring, partial or total liquidation, and bankruptcy under chapters 7, 11, or 12. As a producer evaluates how to solve financial stress, they must consider each of these alternatives. Which the producer finally chooses often depends on factors that are beyond his control.