A little bit panicked, need advice. PLEASE HELP!!!

[parsley]

You can't afford to holiday?

4 Neighbors/locals go away for two months to Arizona. Not uncommon:

2 housechecks @ $10.00ea = $20.00/wk x 8 weeks =$160.00 each family x 4 families = $640.00 of driveby checking on the way to town.

You go to town twice a week anyhow.

These are furnace/breakin/power/water/pet checks for insurance purposes.

Good for the neighbors and good for you.

That pays your cablle and telephone bill for the two months.

[cottonpicken]

One thing to remember pars,some of us have bills no job will come close to paying.

[Hopperbin]

Snappy hit it on the head, be up front. I think I still should take a holiday even if I cannot afford one though. CP credit cards are not for borrowing money, I use them for convenience and they get paid off by my financial institution never no interest. Freewheat if your a week late on a credit card payment you can get on the phone also and tell them about not getting your bill in time, I even used found my payment on floor of car so was going to be late, no interest, they need you. Works for me.

[skhadenuf]

If you have a good crop in the field crop insurance will pay you ZEEEERRROOOO, and so will Ritz's CAIS since it will be counted as production until overwintering destroys your crop or you harvest it. Gonna need a fairly good miracle to harvest any of this crop if the current forecasts are anywhere right.
If you get the chance by a miracle harvest the canola first it will be shelled or so shitty 9 out of ten times overwinter that it won't be worth harvesting.
Call your MLA and MP tell them to explain to you how provincially crop insurance is gonna get you money now and federally how CAIS will get you money now. When you see how stupid and ignorant of reality they are you will be like the rest of us. You are the kind of person young and ambitious that there should be something that helps but there is't.
Likely the only thing you can do is tell your banker how much crop is worth bullshit them and give them SNAPPY's phone number if they don't believe the crop will overwinter, if they don't believe you or snappy then calculate what your dollar coverage is if the crop is totally lost and crop insurance pays you out in spring. The hounds will be on you like shit to a stick no matter how you talk to them they don't give a dam. Loosing your equipment sounds easy but getting it back to put the crop in isn't easy. SEE A LAWYER! But book it now there will be lineups as those of us here with 40 to 50% off are a bit better off but not much. GOOD LUCK.
PS maybe you and others may be ready to organize,finally get something in place useful.

[Hopperbin]

Cotton I also think an off farm job will actually cost me in lost money from the farm. Maybe parsley gets to sell organic produce to all her coworkers.

[Hopperbin]

You need a dryer. You can purchase old Tox-o-wiks that can dry any moisture grain, dryer only approx. 1000 dollars maybe needs some work, plus another 500 to a thousand for a propane tank on wheels if your lucky. But good luck finding one, they are usually gone before you read the paper.

[mbratrud]

Freewheat, you sent chills up my spine not the good chills either. I am a young unestablished farmer as well and I dread the day I have a challenge ahead of me like you do right now. I would like to help if I can. I have some contacts, depending on where you are located may not beable to help you out. Of course the weather will need to provide some assistance as well. I would be happy to chat with you though. mark@bratrudag.ca

[SASKFARMER3]

Plan B, Mother nature screwed us all If you tried your hardest to get the dam crop in then sleep tight you did your part,
Two Answer the dam phone Its darn hard to do but nothing psis off lenders more than a phone that rings and rings and rings.
Three make a plan, Harvest most valuable crops, ps on "Oats or Hrs or Barley, Get canola and flax. Prioritize who to pay and who to delay, Taxes on land have a year before they seek judgement.
Go kiss neighbors ass if he has a dryer and find out cost pay him back with work etc.
If you got crop off get a advance on all of it. Especially CWB since they will be giving you peanuts other wise its cash up front. Talk to lenders, and go with a plan, Simply saying its wet and wet and crop in field, they will have heard it a 100 time s before you even got their. Its like guys going in when it froze and saying we have worthless grain it froze. Yes it froze but the lender will right down what you say, if you say its worthless they will right that down.
If its a Viagra bill or Etc. Talk about a repayment schedule, Feb march April, Parts, Maybe will have some agristability by then etc. Judge your cash flow, sit down and go over all bills till spring when your harvesting this crap.
If all else fails and they serve you don't panic phone FDMS or FLSB and discuss your situation, Psing away allot of cash having a lawyer deal with it is a waist of time unless they come at you with a viper for the lenders out of Saskatoon.
Most important get a plan. Been their its going to be a very stress full winter. Look at it after its over as a life lesson that's greater than any class one could take at the Offs.
Good Luck.

[SASKFARMER3]

That last line should have read U of S. Hang in their. Also redo your plan if you get 4000 bush of canola off. Talk to any family or friends you have. Don't keep it in it will eat away at you till spring. Its hard not to get down on your self.

[cottonpicken]

Actually,this could be the most important thread in the history of agri-ville.

Would it be better to be incorporated?
We still have the home quarter is safe rule?
Sell assets to family now to protect them in the future?

I think maxing out unsecuritized debt(like credit cards) and paying important(securitized) debt off makes alot of sence.
Not rental debt,more land would help i would think.

Lots of questions.

[oldjim]

Hello, new guy here. After reading this thread my first thought was "yeah, been there". Second thought was maybe add something to the advice already given. First thing to do is be up front with your creditors. They may say some things you might not like to hear but they'll really get miserable if you start dodging them. If you are dealing with a bank go talk to Farm Credit. They've gotten way more lenient these last number of years including interest-only loans for young guys. They don't two-bit you to death with service fees like the banks do. You have the advantage of having a good credit history so any reasonable creditor should understand you're not trying to duck out, it's due to circumstances beyond your control. If it's any consolation you won't be alone in your predicament this year - lots of established guys will be hurting too. If you don't have livestock to look after in the winter you will need to find some kind of job to get you through the winter. If you're near a large centre it will be easier but there's lots of work out there, especially if you're in Sask or Alberta. You might not like the job but you got to eat, and remind yourself that it's only temporary - unlike the other poor shmucks that are stuck there forever. Go talk to crop insurance. In Sask at least, you have to notify them by Nov. 15th that the crop is going to be out over winter and your coverage will be based on whatever you salvage in the spring. Don't expect a crop insurance payout before spring, I'd bet they're going to make everyone wait until the crop is either off the field or totally wrecked. I hope you can get through this, there's not too many young guys stepping into farming. It's not going to be easy, it never has been. But if you want it bad enough you'll get through it.

[dfarms11]

Cotton, you have to be very carefull with selling assets to family members. Creditors can not only come after you for the money, but can involve the ones you sold the assets too as well. Just be carefull with this one. Most definitly the idea to run past a lawyer!