Answers to common questions about bankruptcy, debt, business law, and estate planning from the attorneys at Biggs Law Firm.
When a business files for Chapter 11 bankruptcy, the owner isn't the only one with a stake in what happens next. Creditors, from banks and suppliers to landlords and lenders, become active participants in the case, and their…
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When a business files for Chapter 11 bankruptcy, the owner isn't the only one with a stake in what happens next. Creditors, from banks and suppliers to landlords and lenders, become active participants in the case, and their…
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When people first start researching bankruptcy, one question comes up again and again: can I leave certain debts out of my filing? Maybe there's a small personal loan from a family member you'd rather keep paying, or a store…
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The phone rings, and you already know who it is before you look at the screen. Another creditor, another demand for payment you can't make right now. If you're behind on bills and the calls have become a daily source of…
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If you run a farm in North Carolina, you already know your finances don't work like a typical business. Income arrives once or twice a year after harvest or sale, not in steady monthly deposits. Weather, commodity prices, and…
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If you've been thinking about filing for bankruptcy, one of the most common concerns people bring to our firm is this: "Will I ever be able to get a credit card again?" It's a fair question, and the honest answer is more…
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Can a Partnership File for Bankruptcy in North Carolina? Yes, partnerships are eligible to file for Chapter 11 bankruptcy, but eligibility is only the beginning of the analysis. The consequences of filing vary significantly…
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Farming has never been a predictable business. A single bad harvest, a stretch of drought, or a sudden drop in commodity prices can push a financially stretched farm toward the breaking point, sometimes faster than farm…
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When financial hardship becomes overwhelming, one of the first questions people ask is what they stand to lose. For many North Carolinians, retirement savings represent a lifetime of careful planning, and the thought of losing…
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When a business hits a financial wall, one of the first questions owners ask is: “Will I lose my assets if I file for Chapter 11?” The short answer: not necessarily. When a business hits a financial wall, the instinct is often…
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If you're a business owner facing serious financial pressure, a question you may have found yourself asking is: can I actually go to jail for not paying my debts? At Biggs Law Firm, we've heard this question from clients who…
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Filing for bankruptcy can feel like it closes doors, especially when it comes to homeownership. But that's not the full story. While bankruptcy does affect your ability to get a mortgage, it does not permanently prevent you…
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When you're facing financial pressure and looking for ways to cut costs, the idea of using AI to handle your bankruptcy paperwork can seem appealing. Tools like ChatGPT are free, available around the clock, and can produce…
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When you're facing serious financial hardship, every dollar counts. It's natural to wonder whether you can file for bankruptcy on your own to avoid attorney fees. Filing "pro se," a Latin term meaning "for oneself," is…
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When your farm faces mounting debt and uncertain revenue, every day can feel like a battle against time. Crop seasons don't wait, loan payments keep coming, and equipment needs don't pause for financial restructuring. If…
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One of the most pressing concerns people have when considering bankruptcy is whether they'll lose their vehicle. For most North Carolina residents, a car isn't a luxury, it's a necessity for getting to work, taking children to…
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When your business faces serious financial challenges, understanding the timeline for Chapter 11 bankruptcy becomes one of your first concerns. Business owners want to know how long they'll be in bankruptcy court, how soon…
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Filing for bankruptcy represents a significant financial decision, and proper preparation can make the process smoother and more successful. One of the most important steps in preparing for bankruptcy is gathering the…
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For farmers facing financial hardship, the question of whether you can continue paying farm leases after filing for bankruptcy is often one of the most pressing concerns. Your leased land, equipment, and facilities may be…
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When your business enters Chapter 11 bankruptcy, one of the most pressing concerns is what happens to the agreements that keep your company running. Those office leases, supplier contracts, and service agreements represent the…
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When financial hardship forces you to consider bankruptcy, one of the first questions that comes to mind is probably "How long will this take?" It's a fair concern. You're ready for relief from creditor calls, mounting debt,…
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When debt becomes overwhelming, the search for relief can feel urgent and confusing. Two common paths emerge: debt settlement and bankruptcy. Both promise to address financial hardship, but they work in fundamentally different…
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When you're facing financial hardship, the idea of paying money to get out of debt can feel overwhelming. Yet understanding the costs associated with bankruptcy filing is an important part of deciding whether this path makes…
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For North Carolina farmers facing overwhelming debt, the fear of losing their livelihood often overshadows the potential relief that bankruptcy protection can provide. Many agricultural producers believe that filing for…
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When financial pressures mount and creditors start calling, many North Carolina residents ask themselves a frightening question: "Can I go to jail for not paying my debts?" This fear, while understandable, is often based on…
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For many North Carolina families facing financial hardship, the family home represents more than just shelter - it's the foundation of stability, the center of memories, and often the largest investment they've ever made. When…
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When financial pressure mounts and your business faces overwhelming debt, the thought of bankruptcy can feel like the end of everything you've worked to build. Many business owners assume that filing for bankruptcy means…
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When overwhelming debt threatens your financial stability, the promise of a quick fix can seem irresistible. Debt settlement companies flood the internet and airwaves with advertisements promising to reduce your debt by 50% or…
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When your business faces financial challenges, the path forward may seem unclear. Should you consider formal bankruptcy protection, or would a restructuring outside of bankruptcy better serve your company's needs?…
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When your business faces overwhelming debt, Chapter 11 bankruptcy can provide the breathing room needed to restructure and emerge stronger. The heart of any successful Chapter 11 case lies in developing and gaining approval…
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For many North Carolinians facing financial hardship, their home represents not just their largest financial asset, but also stability and security for themselves and their families. One of the most common concerns we hear…
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When facing financial difficulties, most people focus solely on immediate concerns - paying bills, managing debt collectors, and keeping a roof over their heads. However, at Biggs Law Firm, we believe in looking at the bigger…
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Bankruptcy is a word that often sparks fear, especially for small business owners who have poured time, money, and passion into their ventures. The idea of losing everything or permanently damaging financial credibility can be…
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Have you ever wondered what happens when money problems end up in court? Imagine spending years fighting a legal battle, only for one filing to change everything. What if someone in the case suddenly files for bankruptcy?…
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A Fresh Start Without Losing Everything Facing overwhelming debt can feel like you're trapped with no way out. The fear of losing your home, car, or other valuable assets might make you hesitate to take action. But what if…
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Filing for bankruptcy can feel overwhelming, but you don’t have to navigate it alone. For individuals and businesses in financial distress, understanding the bankruptcy process can help you regain control of your finances.…
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Is financial hardship keeping you up at night? Whether you’re a small business owner facing mounting debts or an individual struggling to make ends meet, bankruptcy might offer the lifeline you need to regain stability.…
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Is your small business in North Carolina struggling to stay afloat financially? Economic challenges, market fluctuations, or unforeseen events can push even the most resilient businesses into tough financial waters. Bankruptcy…
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What happens when a business can no longer stay afloat? Chapter 7 bankruptcy often feels like the last resort—but it’s also a lifeline. It allows businesses overwhelmed by debt to liquidate their assets and provide closure to…
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Are you tired of constantly receiving phone calls and letters from creditors? Is your debt growing instead of shrinking every month and making it more difficult to keep up with paying your bills? You might benefit from filing…
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Nearly 7,500 individuals and businesses file for bankruptcy in North Carolina each year, about one-third of whom are Chapter 7 bankruptcy filers. Chapter 7 bankruptcy enables individuals to seek fresh starts by helping them…
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The divorce process is already complicated enough. After months of negotiations, you finally settle on an agreement, finalizing who will keep the house, alimony payments, child custody, etc. A few months or even years later,…
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Filing for divorce is a life-changing event. If you suffer some other setbacks during the proceedings, you may need to consider filing for bankruptcy while getting divorced. You might be unsure how this works, though.…
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According to the Administrative Office of the U.S. Courts, bankruptcy filings increased by almost 17% from 2022 to 2023. Nearly 388,000 bankruptcies were filed in 2022, compared to about 453,000 in 2023. Around 434,000 of…
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Many people know that filing for bankruptcy can impact their lives for years. However, it is often the best way out of a bad financial situation. But why do most people declare bankruptcy in the first place? This post covers…
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A recent statistic published by the United States Courts shows that of the more than 413,000 bankruptcy filings nationwide that year, more than 120,000 were Chapter 13 ones. This is less than half the amount (which was more…
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You or your North Carolina company have fallen on financial hard times. It's not the first time that you've been in a similar predicament. You've actually filed for bankruptcy before. You're now facing a situation where you're…
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Individuals and businesses who are facing hard financial times often consider bankruptcy when looking for debt relief. While Chapters 7, 11, and 13 may resonate with you as different bankruptcy chapters you've heard of, many…
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You and your husband or wife have decided to end your marriage. You've been separated for some time and have been trying to broker an out-of-court settlement in your case instead of a family court judge making those decisions…
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Most everyone has heard of Chapter 7, 11, and 13 bankruptcy. However, there are lesser-known chapters of the bankruptcy code, including Chapter 12 bankruptcy, that you might not be as familiar with that is appropriate for a…
Read article8 articles about business.
When a business hits a financial wall, one of the first questions owners ask is: “Will I lose my assets if I file for Chapter 11?” The short answer: not necessarily. When a business hits a financial wall, the instinct is often…
Read articleIf you're a business owner facing serious financial pressure, a question you may have found yourself asking is: can I actually go to jail for not paying my debts? At Biggs Law Firm, we've heard this question from clients who…
Read articleWhen your business faces serious financial challenges, understanding the timeline for Chapter 11 bankruptcy becomes one of your first concerns. Business owners want to know how long they'll be in bankruptcy court, how soon…
Read articleWhen financial pressure mounts and your business faces overwhelming debt, the thought of bankruptcy can feel like the end of everything you've worked to build. Many business owners assume that filing for bankruptcy means…
Read articleWhen your business faces financial challenges, the path forward may seem unclear. Should you consider formal bankruptcy protection, or would a restructuring outside of bankruptcy better serve your company's needs?…
Read article
When government entities or public utilities need private property for public projects, they can use eminent domain powers to acquire that property through condemnation proceedings. While property owners receive compensation,…
Read articleYou or your North Carolina company have fallen on financial hard times. It's not the first time that you've been in a similar predicament. You've actually filed for bankruptcy before. You're now facing a situation where you're…
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Listen up, North Carolina business owners ! The Corporate Transparency Act (CTA) went into effect on Jan. 1, 2024. And, since it applies to limited liability companies (LLCs), corporations, and businesses with other…
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You found out that a pregnant mother is allegedly expecting your child or that a baby that was recently born apparently belongs to you. Or perhaps you just learned "through the grapevine" that a child born to a former female…
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As a parent, it's unlikely that you ever planned to spend time away from your child aside from when they had to attend school or other activities. Relationships between parents sometimes don't stand the test of time and work…
Read article2 articles about estate planning.
When facing financial difficulties, most people focus solely on immediate concerns - paying bills, managing debt collectors, and keeping a roof over their heads. However, at Biggs Law Firm, we believe in looking at the bigger…
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Research conducted by the Pew Research Center in 2019 showed that at least 59% of American adults aged 18 to 44 had resided with a romantic interest at some point in their lives. Their other research showed that cohabitation…
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Can filing for bankruptcy actually wipe out your tax debt? For many people, the idea sounds too good to be true - until they learn the details. Tax debt can feel overwhelming, especially when combined with other financial…
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Filing for bankruptcy is a reality for many farmers in these uncertain financial times, but the process raises many questions. Will you lose the farm? Can you keep your animals and equipment? What happens to your business…
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Nearly 5,000 American businesses file for Chapter 11 bankruptcy each year. This includes big-name companies like Bed Bath & Beyond and much smaller mom-and-pop operations. From the outside looking in, filing for bankruptcy…
Read articleFiling for a Domestic Violence Protection Order in North Carolina offers legal protection against an abuser. Many victims of domestic violence assume they won’t qualify for a protective order or that the process will be…
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It's that time of the year when most of us are sitting down to file our taxes. If you've already done so, it may just be a matter of time before you receive your tax refund direct deposit or check in the mail. If you are like…
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When individuals decide to file for bankruptcy , one of the biggest concerns they have when doing so is that they're going to have to part ways with their belongings, like their home, their car, jewelry, and other assets.…
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