(NAFB) Farm bankruptcies are soaring year-over-year, according to the latest data from the U.S. Courts. Joe Peiffer, attorney with Ag & Business Legal Strategies in Iowa, says the numbers are alarming.
Peiffer says the blame for the rise lies in President Trump’s tariff war and the resulting loss of ag markets.
Not only the financial loss, but Peiffer says the emotional strain on farmers is immense. He notes the story of one of his clients.
Peiffer says it’s “fish or cut bait time” for a lot of farmers, and he recommends they talk to an experienced bankruptcy attorney and a tax advisor.
