Bankruptcy and Business Issues

Norristown Business Bankruptcy Lawyer

Business Owner Responsibility in Bankruptcy

Operating a business requires a huge commitment of time and resources on the part of the owners. There are frequently significant start up costs and the ongoing costs associated with running the business. If there is ever a time where demand for your product or service starts to decline and your income no longer covers business-related expenses, it is important to understand your rights and responsibilities.

If the business is a corporation, the business itself is considered the debtor and the owners or shareholders are generally not held personally liable for the debts. However, owners are frequently required to sign personal guarantees for the corporate debt making them personally liable. If the business is a sole proprietorship or a partnership, owners themselves are the debtors and are held liable for the debts of the business.

Understanding Your Options

For many companies, Chapter 11 business bankruptcy gives the business time to reorganize their debt and devise a plan for the future of the company after bankruptcy. For others, especially sole proprietorships, personal bankruptcy may be a more appropriate course of action. An experienced bankruptcy attorney can help you to understand your options and give you all the information you need to make a sound decision.

At the Collegeville, Pennsylvania, law firm of Nahrgang & Associates, P.C., we have worked with many businesses that needed help getting relief from an excessive debt load. We offer complete Chapter 7, Chapter 13 and Chapter 11 bankruptcy services as well as bankruptcy alternatives. We will work with you to fully understand your situation and your goals in order to build a customized debt relief solution specific to your needs.

Call for a Free Initial
Contact our office today to discuss your bankruptcy or family law questions. You can reach us by phone at 610-489-3041 or via e-mail. We will respond promptly to all phone calls and emails, within 24 hours.
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I have dealt with Matt for a few years for a couple of matters for myself and for my mother-in-law. Matt has always been a man of his word; anything he said he would do was done as expected. He provided timely and accurate advice when requested. Matt never pushed services that were not required and at certain times he recommended less costly services that would achieve the same results. I highly recommend him as very honest and ethical. He always disclosed fees in advance and there were never any "surprise" fees.— jimcar13
Mr Nahrgang was easy to work with, and did an excellent job with my case. Though my case turned out to be more complex than we had originally realized, he handled every complication promptly and competently.— eyedoc89
I was first recommended to Matthew Nahrgang by a friend. I was having serious financial issues at the time. I went to Matt and had a conversation which set my mind at ease. He is straight to the point, honest and tells you how it is. No frills kind of guy. He also is confident in his business and knows the law very well, which is what set me at ease. It was not near a big deal as I thought it to be. He does what he says he is going to do and does it in a timely manner. I have used Matt a few times now and I've recommend him to many of my friends and business acquaintances. I highly recommend Matthew Nahrgang!— my1leelee
In relation to my bankruptcy and in retrospect, I was thankful that I had discovered Mr. Nahrgang and had engaged him to respresent me in my case. I found him to be respectful, understanding, highly knowledgeable and trustworthy. I appreciate all that he did on my behalf and have recommended him to friends and family.— Orangefit09
Areas we serve
The Collegeville, Pennsylvania based law firm of Nahrgang & Associates, P.C. represents clients in the counties of Montgomery, Bucks, Delaware, Chester, Berks, Philadelphia, Lancaster, Northampton and Lehigh including the communities of Collegeville, Jenkintown, Doylestown, West Chester, Reading, Media, Allentown, Norristown, Phoenixville, Quakertown, Pottstown, Lansdale, Royersford, Plymouth Meeting, Exton, Conshohocken and King of Prussia, PA.
Our location
Nahrgang & Associates, P.C
35 Evansburg Road, Suite 3 Collegeville, PA 19426
Phone: 610-489-3041
Fax: 610-489-3042