If you are either considering contesting an SBA debt or DOT collection problem without “licensed” professional representation (which actually means hiring a federally authorized SBA Workout Attorney or Treasury Department Practitioner) or by “doing it yourself” then we ask that you take a look at a basic maze dealing with a specific aspect of federal…Read More
We often provide complimentary case evaluations for SBA loan debtors who are currently dealing with the DOT (Department of Treasury) for an old SBA debt that the DOT claims is “due and owing.” More often than not, when the Firm is hired, we not only try to obtain the client’s documents from their former “non-attorney”…Read More
An obscure law could soon result in smaller federal benefit and entitlement checks for hundreds of thousands of Americans who owe the U.S. money from defaulted loans and other debts, such as SBA loan debts, more than a decade old. Generally speaking, several federal entitlement incomes, such as Social Security benefits or military retirement monies…Read More
You should not have to struggle to settle SBA debt on your own. Instead, turn to one of our attorneys who specializes in SBA OIC claims. We are dedicated to helping you settle SBA loan default by reviewing your case under Federal False Claims Act guidelines and key points. I. THE FEDERAL FALSE CLAIMS ACT…Read More
Mark Cuban won a years-long fight with the federal government agency, SEC, Wednesday when jurors said that the billionaire basketball team owner did not commit insider-trading when he sold his shares in an Internet company in 2004. Cuban hugged his lawyers after the verdict, then called family members. During an impromptu news conference outside the…Read More
What SBA Borrowers, Obligors & Personal Guarantors Should Know About SBA 7(a) and SBA 504 Loan Defaults, Lawsuits, Liquidation and Liability
The SBA has been providing small businesses with loans since its creation in 1953. The SBA provides loans to businesses by backing lender-issued loans and guaranteeing payment of the loan in the event of an SBA loan default. Guaranteeing the loan means that, should the business default on the loan, the SBA will guaranty the…Read More
Excerpts from the United States Attorney’s Manual regarding their policies with respect to SBA loan default & debt
Below are excerpts from the United States Attorneys’ Manual relating to several key policy treatment by the Department of Justice lawyers with respect to non-tax federal debts, such as SBA debts. Key provisions that SBA debtors should, at the very least, familiarize themselves with are noted below: 3-10.120 Nationwide Central Intake Facility Commencing on October…Read More
Did you know about the Federal Law passed in 2008 & signed into law by the United States President which can eliminate your SBA statute of limitations defense?
Under the Federal statute of limitations (28 U.S.C. 2415(a)), an action by the Government to recover upon a contract is barred unless filed within 6 years from the date a cause of action occurred. The date of the accrual of the cause of action may be subject to various interpretations. However, in the event of…Read More
Deadline set by Treasury Department when Federal Government runs out of cash: Get ready for aggressive federal debt collection!
This is a repost of a New York Times article reporting on the deadline date when the United States Federal Government runs out of cash unless the “federal debt limitations threshold” is raised. What does this mean for you? It potentially means a step-up in aggressive IRS and non-tax federal debt collections (such as SBA…Read More
This is a reprint of a news article about the billions of dollars of SBA loan default amounts and who ended up bearing the brunt of the problem loans. Sound familiar? Yes….bank bailout, auto industry bailout, home mortgage and collateralized debt obligations (CDO) bailout. Now…SBA loan bailout. SBA and AIG, as notorious acronyms actually share…Read More
“WASHINGTON — Unless Congress raises the debt ceiling, the Treasury Department said that it expected to lose the ability to pay all of the government’s bills in mid-October. That means a recalcitrant Congress will face two major budget deadlines only two weeks apart, since the stopgap “continuing resolution” that finances the federal government runs out at the…Read More
SBA SOP 50 51 3 is a very important standard operating procedure which needs to be understood by SBA debtors looking to resolve their SBA guaranteed debt. We will be reviewing and commenting on this SBA SOP through a series of blog articles to give debtors knowledge as knowledge is power. SBA Liquidation A. Responsibility…Read More
Helping provide real solutions to individuals who are facing SBA loan problems. Contact one of our experienced SBA Attorneys and Federal Agency Practitioners today for a Free Case Evaluation - (888) 303-6975.