Farm Debt Mediation Service
To provide insolvent farmers with mediation services to help them arrive at a mutually satisfactory repayment agreement.
- Agriculture and Agri-Food Canada
Overview of the Farm Debt Mediation Service program:
The Farm Debt Mediation Service offers free financial counselling and mediation services to farmers who are having difficulties meeting their financial obligations. It is a voluntary, private and confidential service that brings producers and their creditor(s) together with a mediator in a neutral forum to reach a mutually acceptable solution. The majority of cases that have gone through the mediation process have resulted in a signed agreement between farmer and creditor(s). The Farm Debt Mediation Service is divided into 2 sections: Section 5(1)(a) - includes a stay of proceedings Section 5(1)(b) - does not include a stay of proceedings
Eligibility criteria of the Farm Debt Mediation Service program:
- To be eligible for the Farm Debt Mediation Service, you must farm commercially and meet at least 1 of the following 2 criteria:
- You have stopped or are no longer able to make your payments on time
- If sold, the value of your property would not be enough to cover the cost of your debts
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- Newfoundland and Labrador Department of Business, Tourism, Culture and Rural Development