Credit Disaster Emergency Relief Act of 1985

[AI summary unavailable — showing source text] Credit Disaster Emergency Relief Act of 1985 - Amends the Consolidated Farm and Rural Development Act to direct the Secretary of Agriculture to establish a credit-disaster emergency loan program for family farmers and ranchers to: (1) refinance restructure existing loans; (2) reorganize operations on a more economically sound basis; (3) provide financing where lending institutions have ceased operating; and (4) purchase essential equipment and supplies. Permits the Secretary to defer loan payments or foreclosure for up to five years.…