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Attorney Stephen Carpenter, Farmers Legal Action Group
This webinar will look at the way the law approaches lending when the farmer has trouble making payments. We will discuss the common types of loans, forms of collateral that are often used, and actions that lenders can take – generally foreclosures, repossession, judgments, and refusing to extend additional credit. Attorney Carpenter will also provide a brief summary of how bankruptcy law applies to farmers and summarize some of the common mistakes a farmer in that situation might make. Lastly, he will describe some of the special rules that apply when USDA’s Farm Service Agency (FSA) is the lender and the decision to approach a lawyer.