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NAME___ DATE ___ CLASS ___Growth and Expansion Lesson 3 Unity and Sectionalism Terms to KnowESSENTIAL QUESTIONsectionalism rivalry based on the special interests of different areas interstate commerce
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Chapter 12 growth refers to a specific segment of the U.S. bankruptcy code that provides a framework for family farmers and fishermen to reorganize their debts while maintaining their operations.
Family farmers or fishermen with regular annual income and who meet certain debt limits are required to file under Chapter 12 growth.
To fill out Chapter 12 growth, the debtor must complete the official bankruptcy forms, including schedules detailing their debts, income, expenses, and a proposed repayment plan.
The purpose of Chapter 12 growth is to help family farmers and fishermen reorganize their debts, providing them the opportunity to continue their operations and ultimately pay off their obligations over time.
Debtors must report detailed information regarding their financial situation, including income, expenses, assets, liabilities, and a proposed repayment plan.
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