Chapter 12 is primarily designed to provide debt relief to family farmers.  Chapter 12 is available to individuals, corporations, and partnerships with regular annual income (50% or more of which is derived from farming) that, on the date the case is filed, owe debt less than $1,500,000 (80% of which arises out of the farming operation).  Family farmers must propose a plan to repay their creditors over a three-to-five year period. The court must approve the plan.   

Plan payments are made through a chapter 12 trustee, who also monitors the debtors' farming operations during the life of the plan. Chapter 12 allows the farmer to continue to operate the farm while the plan is executed. 

Read more about Chapter 12 (Family Farmer or Fisherman) Bankruptcy