Bankruptcy Options in San Luis Obispo

Helping Guide Consumers From Morro Bay to Atascadero, and Points Beyond, Through the Bankruptcy Process

Bankruptcy is a complex area of law that is always changing. Before pursuing your right to bankruptcy and debt relief, it is important to have a clear understanding of your rights and how bankruptcy will impact your life.

Farmer & Ready, A Law Corporation is a local bankruptcy law firm focusing on helping Central Coast consumers and small businesses achieve debt relief through bankruptcy. We take a strategic approach and will always focus on your rights and best interests in achieving long-term financial solutions for you.

Farmer & Ready, A Law Corporation provides advocacy focused on your rights and your relief. Call 805-541-1626 or email to arrange an initial consultation or case evaluation regarding bankruptcy options.

Chapter 7 Consumer Bankruptcy Attorney

Chapter 7 bankruptcy is often the best solution for consumers and small-business owners because it allows for the complete liquidation or elimination of unsecured debt. When you file Chapter 7, you will not have to repay creditors or reorganize your debts. The process is relatively fast which lets you focus on your economic future, not the problems of the past.

Chapter 7 bankruptcy allows you to:

  • Eliminate unsecured debts
  • Protect your assets, including your home and savings and retirement funds
  • Quickly achieve debt elimination

Chapter 11 and Chapter 13

If you do not qualify for Chapter 7, remember that you may be able to file a Chapter 13 to reorganize debts, stop a foreclosure, or stop creditor harassment. A Chapter 13 bankruptcy, requires a payment plan that complies with court guidelines. At the end of the payment plan (usually three to five years) any remaining qualifying debt is discharged.

Chapter 11 is an option available to individuals and businesses whose debt load exceeds the Chapter 13 debt limit. It can be an expensive process, but it allows you to modify mortgages and restructure payment arrangements with creditors.

Take Action Today to Protect Your Rights

While our law firm can act on your behalf at any stage of the foreclosure or bankruptcy process, it is best to seek out our services as soon as possible. If you have received a collection letter, been served with a lawsuit or suspect that you may be facing forfeiture or repossession of property, it is important to email us as soon as possible.