Small businesses
Businesses that need to restructure their debts and keep operating after a financial setback.
Business Bankruptcy
Chapter 11 Business Bankruptcy
If your small business has suffered a financial setback, is facing foreclosure, or is behind on payments to creditors, Chapter 11 may help. Known as "reorganization" bankruptcy, it allows a business to avoid liquidation by restructuring its debts through a court-approved plan.
Overview
How Chapter 11 can help your business
Chapter 11 gives a business time to analyze its operations and develop a plan to address all of its creditors. Once the case is filed, creditors must stop contacting you, foreclosures and lawsuits must stop, and many payment obligations can be delayed until the bankruptcy court approves your plan.
Through a court-approved plan, business owners can modify loan terms, eliminate unnecessary expenses, catch up on overdue taxes, sell assets, and defer payments to creditors while stabilizing cash flow.
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Behind on payments to lenders, landlords, or vendors
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Facing foreclosure on business property
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Overdue business taxes
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Cash flow that cannot cover payroll and operations
Our Approach
Negotiating with creditors, in and out of court
Our attorneys negotiate with creditors to obtain debt relief and more favorable payment terms, both outside of court and through a Chapter 11 case.
The firm has represented businesses in many industries, including retail, restaurants, real estate development, construction, medical practices, golf courses, apartment complexes, and office buildings.
Who We Help
Who we represent
Individuals with substantial debt
Individuals whose debts exceed their ability to repay, including business owners sued for a deficiency after a failed business or facing significant tax liabilities.
Our Services
Areas of business bankruptcy practice
Not sure which service fits your situation? Contact us and we will help you sort it out.
Request A ConsultationChapter 11 filing
Evaluating your options, preparing the filing, and developing a reorganization plan.
Out-of-court negotiations
Negotiating debt relief and better payment terms with creditors without a bankruptcy filing.
Creditor representation
Representing creditors with claims in business bankruptcy cases.
Bankruptcy litigation
Representation in disputes that arise during a business bankruptcy case.
Adversary proceedings
Representation in lawsuits filed within a bankruptcy case.
Biggs Law Firm
Meet your attorney
Board Certified Specialist in Business and Consumer Bankruptcy Law.
Laurie B. BiggsFounding Partner
View Full BioBusiness BankruptcyYour First Consultation
Preparing for Your Consultation
What to bring
Bring recent financial statements, a list of creditors, loan and lease documents, tax notices, and any lawsuits or foreclosure notices. We will let you know if we need anything else.
Call 919-375-8040 to scheduleFAQ
Frequently asked questions
These answers are general information, not legal advice. Every situation is different, so talk with an attorney about yours.
Can my business keep operating during Chapter 11?
Yes. Chapter 11 is designed to let a business keep operating while it restructures its debts under a court-approved plan.
Can an individual file Chapter 11?
Yes. Individuals whose debts exceed their ability to repay may file Chapter 11 to use a court-ordered payment plan.
Is bankruptcy the only option for my business?
Not always. In some cases, we can negotiate debt relief and better payment terms with creditors outside of court.
Is business debt putting payroll, loans, or operations at risk?
Schedule a consultation with one of our attorneys.