Can You File for Bankruptcy If Your Debts Are Marijuanna Related from Growing Weed?

Growing marijuana is no longer something that is entirely shady or underground. There are a lot of people who are quite proud of the fact that this is what they do. This is because it is becoming legal in a lot more areas of the United States and around the world. People are becoming bolder in their expressions of joy about growing marijuana and profiting from it. That may be all well and good, but we cannot forget that there are still laws on the books that make it difficult if not impossible to file for bankruptcy if you end up with bad debts in your marijuana growing business.

At this moment there is not a lot of recourse for those who wish to file bankruptcy as a result of bad business in the marijuana trade. They are most likely going to have their case kicked out of the court because the court will say that they should never have been in the industry in the first place. They will point to the fact that marijuana remains an illegal substance at the federal level, and this is all that any court will need to look to make sure the person is not able to file their bankruptcy. That is all she wrote in other words.

Now, let’s imagine that you are on the other side of this transaction. What if you are a person who has lent someone money who works in the marijuana trade. You start to sense that their business is not going as well as they had hoped and you want your money back. This is a natural reaction on your part, but what kind of recourse do you have in this situation? You might need to get in touch with a debt collection attorney to help you out with your case.

An attorney can start to file documents with the court to try to get as much of your money back to you as possible. You might have to go through the process of using another individual in order actually to get your hands on that money, but it is better than just chalking it all up as a learning experience. You deserve to get your money back, and the easiest way to do that is to go with an attorney.

Keep in mind at all times that the bankruptcy rules apply to anyone who is involved in the marijuana trade in any fashion. Some have reported that they merely deal in CBD oil and that they shouldn’t have to deal with some of the same burdens and hassles that other marijuana industry people have to worry about. However, it doesn’t much matter in the eyes of the courts. They are only interested in keeping people away from bankruptcy if they are in the trade at all. It may seem unfair, and in a lot of ways it is, but those are the rules as they stand right now until something changes.