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

[freewheat]

I still have not combined anything this year. I have bills due, coming due, and am scared. Other than talking to bankers, suppliers, etc., what should I do? I have never missed a bank payment, or asked for an extension in my career. I am now in a position of horror. I've got nothing. Any ideas. I have a real good crop out there, but the lowest my canola ever tested was 20%. I have no dryer, air, etc... I'm a young guy with no dad.

I just bought land this spring, and a used tractor/drill. With no money projected to come in till spring, what will creditors do with a guy? They are non-comittal so far, maybe it will dry up, but not likely in this foresaken region and at this time of year. With the crop I would have my best year easily. With crop insurance coverage, I should squeeze by, but it will be a long winter of crappy thoughts, depression, and misery, until I learn of my canola's fate in the spring. And then to harvest and seed EVERY acre come spring, alone, I'll be lucky to seed by the middle of June.

What started this all was a two month loan process, whereby one institution fiddeled around and never committed, which ended with a different institution lending to us after a 3 day review, but this was mid may, and I had no tractor/drill yet. So my seeding started May 28th. I finished June 13th. My crops all made it, but now they are screwed. No sun since September. Nothing warmer than 6 since September. Other guys around me are 3/4's done I would think.

Any ideas?

[newguy]

I finished seeding May 30.. Am from a typical hot dry area. Have never had crop out over winter and farmed for 34 years. I have 25% of my crop out with little chance now of combining till spring.. A person can do the exact same thing and one time mother nature makes you look like a genious and the next time an idiot.. This time mother nature got one over on alot of people..

[Burbert]

A job/any job off, will help it hase in the past. Crop insurance will cover some of the bills.,unless you are using cutting edge silver bullet technology. Spring harvest will take some time, but remember, the days are longer in Spring. Plant a smaller crop next year, you don't have to seed corner to corner each and every year. If you have to, sell some of your dirt, you'll git a good price for it these days. Talking to creditors is good, but greed nowadays is endless, they'll come after you eventually. Meanwhile the farmers next door are watchin and waitin fer you to fold.

[silverback]

How many acres are you talking about that are still in the field? Is there anybody done within 10 - 20 miles of you? If nobody is offering to help out, you might go and talk to those big guys that are done and tell them your plight. Don't forget the colony guys, some of them are very willing to show how good of neighbors they can be. I doubt anyone is going to help for free anymore, but maybe they will give you a little discount or some time to pay it back.

[bgmb]

Try talking to your local elevators with dryers and see if you can make arrangements to take your grain there and get it dried IF you can get in the field.

Look at getting some kind of aeration or drying system set up, retrofit existing bins with air heaters so you can at least keep tough grain from spoiling or dry it and move it.

Go after the highest value per acre crops first, I would be especially tempted to get canola off before spring as I have heard it is not much good in spring. even if it costs you a buck a bu in drying still probably better than spring thrashed. Wheat/cereals can wait as they are probably feed already.

Get some extra combining power lined up if possible if this does turn around you will want to have your crop off in a hurry.

Don't give up yet I would think at some point this weather will break and you will get a chance to be in the field.

Good luck!

[bgmb]

how many acres do you have to tear off??

[parsley]

A Dozen Ideas.

1.If you have a lot of old machinery lying around, heavy iron, sell it for scrap. Call your nighbors. Getting lots of loads will attract a dealer. You can probably bank a few thousand dollars.
2.Gather all your used oil. A big tankful? $300-$1000 depending upon the size of the tank. Recycling company.
3. See if you can lease out your mineral rights if you have them.
4. Sell any machinery you don't use.
5. Offer to do some custom work for your neighbors. They will be glad to pay you to do so. Your neighbior is your best ally and wants other neighbors near him.
6. Part time job. They are really easy to get.
7. Rent out a piece of land for a year, but ask for money up front, rather than sell.
8. If you are handy at mechanics, ask the older neighbor women if you could recondition their lawn mowers,etc in the winter.
8. Let people know you will be a reliable "house-checker" for pay, when they are holidaying. Set your price upfront.
9. If you have some gravel. see if you can sell it.
10. Have a garage sale.House itmes, furniture, etc.
11. Go over to your neighbor today, and see if you can rent him stubble land per day if he has cows.
12. Ask a cowboy if he would buy a load of feed. Tell him you really need the money. He'll remember and buy! LOl


Ask. Reach out instead of pretending everything is hunky dorey. People are generally very kind. We've all been young and broke and know what it feels like. And above all, don't lose heart. And laugh. Seek out people who actually WANT you to laugh:

"Every production of genius must be the production of enthusiasm."
-Benjamin Disraeli

Pars

[cottonpicken]

Have you maxed out your advances and credit cards?

Worst comes to worst and you hit the wall i really wouldnt be to worried,i know lots of farmers and lots of other people who have bounced back from bankruptcy,do not think of it as a major ordeal.

MAKE SURE!you talk to a lawyer before you do something rash.Some people have to get paid and some dont.You dont start liquidating land base if you miss a drill payment.

MAKE SURE!you stay in contact with your creditors explain your situation to them BEFORE their hounding you.

Me and lots of people get into financial pain farming.

The more specifics you give the better the advice coming from here will be.


AND ALWAYS ALWAYS REMEMBER THIS QUOTE

"if you hang by the neck long enough, you get use to it"

[BreadWinner]

1st Dont panic.
2nd Talk to friends and any family that will listen.
3rd They are only material items they can be replaced.
4th Wait to see if the weather turns around.

[BreadWinner]

So far Cp I think hit on the head.

Pars no offence, but....

Fix lawmowers?? get a part time job, house sit??

Freewheat has bills that working for $10/hr @ Macdonalds, or checking someones furnace if it's running isn't going to pay his bills.

Freewheat, get a plan.

Any one of your bankers, chemical retailers etc etc, will work with you if your UP FRONT.

Put it on paper show them your figures and if your crop stays out @ feed prices etc etc, and crop insurance kicks in you will be able to make ends meet.

Every machinery dealer, banker etc, has always told me if guys are up front and tells them their situation, they will work with them.

The guys that don't answer phone calls, make excuses, etc piss them off.

Most importantly( this is the one most guys don't do) figure what you could have done possibly to have avoided this from happening. Sometimes mother nature throws us a curve ball. Make sure you did everything possible you could control. And if you did, sleep good knowing it was out of your hands.


My saying of the day:

"What don't break you, makes you stronger"

Good luck!!

[BreadWinner]

5th Check your crop insurance policy, some crops may be more benificial to save than others.
6th Check to make sure you are enrolled in agristability, you may be better off with this program because you have no farming history.
7th Talk to your credit institutions and be honest they will understand.
Finnally,if it isnt meant to be just remind yourself that is not your fault. Many businesses fail and that is a fact of doing business, your credit rating can be rebuilt. You deserve allot of credit for being brave enough for starting this business venture.

Hold your head high.
Your Farmer Freind.

[parsley]

Some farmers plow open roads in the winter, using their own outfit,(partime job), for oil companies. Check a house or two on the way by.

Not shabby cash at all.

[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.