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What Are Sba 7a Loans and What Are the Eligibility Requirements?

SBA 7a loans are a great way to finance an organization and with nine types, options are great for businesses. Learn about the different types and eligibility. SBA 7a Loan SBA 7a loans for your business can make the difference between keeping your business afloat or losing it. SBA7a loans were created for that reason.…

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Can you stop an administrative wage garnishment once it starts?

Yes, you may be able to stop an administrative wage garnishment once it starts. Stop Administrative Wage Garnishment   How Does An Administrative Wage Garnishment Start? The Treasury will send you a notice of its intent to order an administrative wage garnishment.  Thereafter, you can request a hearing.  The hearing is usually a “paper hearing”. …

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How Do I Stop An Administrative Wage Garnishment?

You can stop an administrative wage garnishment by proving: The debt is not enforceable against you The amount of the debt is incorrect An administrative wage garnishment would constitute a financial hardship   How Do I Stop An Administrative Wage Garnishment You Must Timely Request A Hearing On An Administrative Wage Garnishment You will receive…

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What Happens If I Don’t Pay Back An SBA Loan?

If you signed a personal guarantee, the SBA and the federal government will want you to repay the loan. SBA Loan Default The SBA Loan Structure Before we can answer what happens if I don’t pay back an SBA loan, you need to understand your liability.  Businesses use SBA 7a loans for working capital.  A…

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Is There a Statute of Limitations on SBA Loans?

Yes, there is a statute of limitations that applies to defaulted SBA loans.  But the government can still collect from you. Statute of limitations for SBA loan The Federal Government is Limited to a 6 Year Statute of Limitations on Defaulted SBA Loans When your business obtains an SBA loan, you sign a personal guarantee,…

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Can The SBA Garnish Social Security?

Yes, the SBA through the Department of Treasury can garnish your Social Security.  But you do have options to stop the garnishment. SBA Social Security Garnishment The SBA Offset If you have defaulted on an SBA loan and you are a personal guarantor, the SBA, through the Department of Treasury, can garnish your Social Security…

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