Articles & Resources
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 to assume the worst: that bankruptcy means losing everything. The reality of Chapter…
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 have built real businesses and worked hard, yet still found themselves wondering whether unpaid bills…
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 from buying a home. With the right plan and realistic expectations, many people do go on to own…
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 documents that look polished and complete. But looks can be deceiving, and in a bankruptcy case, a document…
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 technically permitted in bankruptcy cases. But the more important question isn’t whether you can do it. It’s whether doing…
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 you’re considering Chapter 12 bankruptcy as a path to preserve your agricultural operation, one of your first questions is likely:…
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 school, and managing daily responsibilities. The good news is that many people who file for Chapter 7 bankruptcy…
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 they can emerge with a fresh start, and what factors might extend or shorten the process. While every case differs based…
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 necessary documentation. Having complete and accurate records ready not only streamlines the filing process but also helps ensure you receive the full protection…
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 essential to keeping your agricultural operation running, and losing access to these assets impacts your overall farming business. The good…