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SBA Loan Repayment Options: Federal Debt Issues & Strategies

As described above, after you default on your SBA loan, you may be subjected to harsh collection tactics and lose access to some available repayment plans … See more

Actived: 6 days ago

URL: https://sba-attorneys.com/sba-articles/sba-loan-repayment-options-federal-debt-issues-strategies

Can't Pay Your SBA Loan

WEBThe SBA guarantees all partner lenders 50% to 80% of the loan, even if you don't pay. In case of default, the SBA will pay up to 85% of the loan amount. Though the amount they …

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How Much of My Paycheck Can the Government Garnish

WEBThe federal government can garnish up to 15% of your paycheck. The administrative wage garnishment process allows the government to take a portion of your paycheck without …

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Debt Resolution: What Are SBA Offers in Compromise (OIC)

WEBSubmitting an Offer in Compromise. An Offer in Compromise is submitted using SBA Form 1150. The Small Business Administration sets forth the elements of a compromise offer: …

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Elements of a Successful SBA Offer in Compromise

WEBMaking the Offer to the SBA. Based on the eligibility criteria, you must wait to begin the process for an offer in compromise (OIC) until the business completes its closure and …

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SBA Loan Default

WEBThe client received the SBA's Official 60-day notice with the debt scheduled for referral to the Treasury’s Bureau of Fiscal Service for aggressive collection in less than 26 days. …

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SBA Offer in Compromise

WEBAn SBA offer in compromise (OIC) is not possible without the cooperation of the responsible Borrowers and Guarantors. One of the basic elements of an SBA OIC is that the small …

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Administrative Wage Garnishment Defense

WEBThe Debt Collection Act of 1982 (DCA) and the Debt Collection Improvement Act of 1996 (DCIA), 31 U.S.C. § 3701, 3711-3702E authorizes the U.S. Small Business …

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Frequently Asked Questions: Administrative Wage Garnishment of …

WEBAdministrative wage garnishment (AWG) is the ability to divert a percentage of a SBA debtor’s disposable pay without having to go through the court system. The Debt …

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AWG Hearing: Establishing Financial Hardship

WEBThe transcript of the video follows below for further review. The Debt Collection Act of 1982 (DCA) and the Debt Collection Improvement Act of 1996 (DCIA), 31 U.S.C. § 3701, …

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SBA Debt Articles

WEBContact one of our experienced SBA Attorneys and Federal Agency Practitioners today for a Case Evaluation - (833) 428-0937. Our SBA debt attorneys can help your debt …

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How Do I Stop an Administrative Wage Garnishment

WEBThe impact of the pandemic has not been limited to our mental and physical health, but also our financial wellbeing. According to this CNBC news report, the average American …

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SBA Relief Efforts for Small Businesses Affected by Coronavirus …

WEBSBA Help for Coronavirus Outbreak: SBA Programs Available for Small Businesses as Domino Effect Begins to Unfold within the Next 4-8 Weeks. Unfortunately, the …

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SBA Loan Default: 6 Things You Should Know

WEBIt is much easier to deal with the SBA instead. 6. Seek Attorney Help With Your Default on an SBA Loan. As mentioned earlier, if you need help with creating an offer in …

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SBA Debt Attorneys

WEBOwe more than $30,000 contact us for a case evaluation at (833) 428-0937

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Signs You Need to Close Your Business Doors

WEBYour Personal Health Has Suffered. If you are spending countless sleepless nights because you are worrying about the vitality of your business, if you've gained weight, if …

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