The Farm Bureau reports that last year there were an average of 12 Chapter Twelve bankruptcies per state. A 24% increase to that would put the number at 15 per state this year. This is consistent with what I have read elsewhere, so I believe it to be true. The Farm Bureau is an advocacy group, but they are not in the habit of lying. So While it is an increase, 15 farms per state does not seem to me to be a big number compared to the number of farmers in each state.
Chapter 12 is what farmers below 4.5 million in value file, vs chapter 11 for those above that.
Certainly farm debt has increased, but I don t know those numbers, but have read that. That would a much larger number of farmers.
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