Farm bankruptcies drop in 2020
A recent study by the American Farm Bureau Federation finds that, nationally, farm bankruptcies were down in 2020. But Iowa farmers didn’t fare as well, seeing a year-over-year increase of court filings.
Recently released caseload statistics from the U.S. Courts indicate that Chapter 12 family farm bankruptcies totaled 552 filings during 2020, down 43 filings, or 7%, from 2019. However, it would also be the third highest over the last decade as the impact of multiple years of low commodity prices and a global pandemic hurt...
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