Kathleen Michon is an estate planning lawyer in the San Francisco Bay Area. She has been affiliated with Nolo in various capacities for more than fifteen years, including five years as Nolo’s in-house bankruptcy, foreclosure, and debt editor. Kathleen’s previous legal experience also includes directing Public Counsel's Consumer Rights Project and representing inmates on death row. Kathleen received a B.A. from Yale University and a law degree from Northwestern University School of Law.
Articles By Kathleen Michon
Will Chapter 7 Bankruptcy Stop an Eviction?
Bankruptcy's automatic stay will prevent your landlord from beginning or continuing with eviction proceedings during your Chapter 7 bankruptcy.
Chapter 7 Bankruptcy for Corporations and LLCs
Filing for business bankruptcy means someone else steps in to liquidate your business’s assets and settle its debts (in this case, the bankruptcy trustee).
Is Your Spouse Liable for Your Business Debts?
Your spouse’s personal liability for your business debts could also affect your decision about filing for Chapter 7 personal bankruptcy. For instance, if your spouse is liable for your business debts and has assets or income to lose, it might make sense for both of you to file for personal bankruptcy.
Will You Have to Close Your Business if You File for Personal Bankruptcy?
You may have to shut your business down if you file for Chapter 7 personal bankruptcy. However, if you own an LLC or corporation with others, you may be able to keep your doors open, even if you are personally liable for a significant portion of its debt.
How Do I Get a Lien Off a Title After Bankruptcy?
How do I get a lien off a title after bankruptcy?
When You Might Be Personally Liable for Corporate Debt
Common ways an owner of a corporation or an LLC might become personally liable for the business’s debts. If you are personally liable for some or all of your business debts, you will have to file a personal bankruptcy, rather than a business bankruptcy, to rid yourself of these debts.
Top 7 Reasons to File for Bankruptcy Right Away
If you are planning to file for bankruptcy, in some cases it makes sense to do so as soon as possible. In certain circumstances, filing for bankruptcy immediately can stop a foreclosure, repossession, or wage garnishment, help you keep more property, allow you to discharge more debts, or even help you
What Happens to Mortgages in Bankruptcy
A major concern for most homeowners who are contemplating bankruptcy is how bankruptcy will affect their mortgage. The good news is that your mortgage company cannot raise your interest rate or change other terms of your loan to punish you for filing bankruptcy. But there are several other things you should know about how fi
Student Loans in Bankruptcy: The Brunner Test
Getting student loans discharged in a Chapter 7 bankruptcy case is very difficult. For the most part, you must show that repayment would cause you "undue hardship."
Will I Lose My Checking or Savings Account if I File Bankruptcy?
If you file for Chapter 7 bankruptcy, will you be able to keep your savings, checking, or other bank accounts? The answer depends on what you mean by "keeping."