Legislatively it's all lumped together, and we're just waiting for this to come down. The delays are basically the result of Congress wanting to tighten general bankruptcy rules to make the process more difficult. In my experience, there isn't the abuse being presumed. As for clients that have been through Chapter 12, most are still working in the business. That's not always the case.
Emotions can be mixed.
Terry Ryel of Aline, Okla., for example, spent three years in Chapter 12 and made his last payment under its provisions this past November. It is tough to make it under bankruptcy. You have to scratch and dig for every little thing. There is too little left to live on, says Ryel. We're pretty common folks, we don't live high on the hog.