Farmers and Lending Law

This webinar, presented by Attorney Stephen Carpenter of Farmers Legal Action Group, looks at the way the law approaches lending when the farmer has trouble making payments. Attorney Carpenter discusses 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 also provides a brief summary of how bankruptcy law applies to farmers and summarizes some of the common mistakes a farmer in that situation might make. Lastly, he describes some of the special rules that apply when USDA’s Farm Service Agency (FSA) is the lender and the decision to approach a lawyer.