By Ryan C. Wood We should probably start with what a proof of claim is as part of the bankruptcy process. A claim is broadly defined by the Bankruptcy Code. Section 101(5) provides the definition of a claim as: (A) right to payment, whether or not such right is reduced to judgment, li

By Ryan C. Wood Yes. There are a number of situations that could create this dilemma for a bankruptcy filer. The issue is about a state court claim or cause of action, say breach of contract, which is prosecuted in state court and then the judgment debtor files for bankruptcy protecti

By Ryan C. Wood Let me begin by making one thing clear. Affordable housing is an issue in the entire Bay Area, not just San Mateo County. Capitalism and an allegedly free market is our system though. You have to take the good with the bad. The market is supposed to determine price. Th

By Ryan C. Wood Celebrity bankruptcy cases usually involve some sort of tax debt owed to the Internal Revenue Service. O.J. Simpson dream team attorney F. Lee Bailey’s, or Francis Lee Bailey, recently filed chapter 7 bankruptcy case is no different. I know there is a lot of water unde

By Ryan C. Wood There have been a number of recent cases regarding the California Homestead Exemption pursuant to CCP 704. The main issue is whether the California Homestead Exemption can be claimed when the person claiming does not physically live in the house. First though there are

By Ryan C. Wood It pays to ask questions every now and then. One such question turned into a quest for more information regarding Section 544 of the Bankruptcy Code and a trustee’s power to step into the shoes of a particular creditor, the mighty Internal Revenue Service (IRS). Sectio

By Ryan C. Wood Yes, you can still strip off an underwater junior lien or mortgage when filing a bankruptcy under Chapter 13, 11 or 12. A recent Supreme Court of the United States holding in Bank of America, N.A. v. Caulkett, 13-1421, is about lien stripping in Chapter 7 cases. I was

By Ryan C. Wood When filing bankruptcy one of the requirements is to attend the meeting of the creditors pursuant to Section 341 of the Bankruptcy Code. You may hear it called the 341 hearing also. You must have your valid identification and proof of your social security number to ver

By Ryan C. Wood Discharging income taxes by filing for bankruptcy protection will most likely see an increase as incomes remain stagnant and taxes increase. We all need to face the fact that our government has a lot of debt and we will have to pay for it via increased taxes. I am not

By Ryan C. Wood If you bank with Wells Fargo Bank and you file for bankruptcy protection you need to be aware Wells Fargo Bank can now legally freeze your bank accounts after you file for bankruptcy if you live in the 9th Circuit. For those of you living in California, this applies to