Earlier this week, attorney Austin J. Peiffer spoke with Erin Anderson from Brownfield Ag News. Their conversation focused on the urgency of risk management, especially as farm bankruptcies continue to rise.
As we noted in our blog When it Comes to Farm Debt – Fish or Cut Bait, the data is clear. The Administrative Office of U.S. Courts reported 181 Chapter 12 bankruptcies filed in the first six months of this year. That’s a 57% increase compared to the same period last year. In all of last year, only 216 cases were filed. The trend is climbing—and experts expect even more filings in the year ahead.
These numbers matter. They’re a warning sign.
As a farmer or business owner, you can’t control the market. But you can control your own financial preparedness. That starts with being organized, covering all your bases, and doing more than just the basics.
In the interview, Austin put it plainly:
“If all you’re doing is updating your balance sheet at the end of the year, you’re operating in the dark for the year. If you’re funding your farm by rolling debt onto land or equipment, you might not see year after year your farm is losing money.”
The message is simple: be prepared.
You might be asking yourself:
- Are my farm finances really in order?
- Do I need help making sense of everything?
- How can I protect my operation in these tough times?
If so, you’re not alone. Many of our clients come to us with the same concerns. And that’s where Ag & Business Legal Strategies comes in. We’ve helped farmers and business owners manage risk, reorganize debt, and plan ahead—so they can keep farming and running their operations.
Don’t wait. Reach out today. We’re here to help.
