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 courthouse, he angrily denounced the Federal Government – most notably, the Securities & Exchange Commission (SEC) and its lead trial attorney, Jan Folena, saying that they lied about the evidence and targeted him because of his fame. He said that defendants of lesser wealth could have been bullied.
The “no bully” policy cannot be overstated when it comes to the Federal Government. They are intimidating, especially with their 3-letter acronym based agencies. Popular polls and studies indicate that these 3-letter government agencies notably strike “fear” and “stress” in people’s minds – picture this – what would you think if you got a certified letter from the IRS, or a phone call from the FBI, the DOJ, the SEC? So, for all of you federal non-tax debtors out there – what would your initial emotional reaction be if and when you receive an acceleration or demand letter from the SBA, or worse, a referral letter, a Treasury Offset Program (TOP) notice or Administrative Wage Garnishment (AWG) from the DOT (Department of Treasury) relating to an SBA debt? My guess . . .your heart rate would go up . . .
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.
If you are struggling with circumstances that involve SBA loan default, you deserve professional help! Our SBA workout attorneys can help you win SBA OIC cases. If you contact us, we can help you resolve your SBA debt once and for all. After you schedule an appointment, you consult with a devoted SBA OIC lawyer who helps you through your administrative legal battle. After your claim's resolved, you won;t have to worry about your SBA loan default problem haunting you. Our team of SBA OIC lawyers has assisted many clients through the years. Now it is your turn! You truly can settle SBA debt for good! Call us now at 888-756-9969 or enter your contact information in our Form.
Millions of Dollars in SBA Debts Resolved via Offer in Compromise and Negotiated Repayment Agreements without our Clients filing for Bankruptcy or Facing Home Foreclosure
Millions of Dollars in Treasury Debts Defended Against via AWG Hearings, Treasury Offset Program Resolution, Cross-servicing Disputes, Private Collection Agency Representation, Compromise Offers and Negotiated Repayment Agreements
Our Attorneys are Authorized by the Agency Practice Act to Represent Federal Debtors Nationwide before the SBA, The SBA Office of Hearings and Appeals, the Treasury Department, and the Bureau of Fiscal Service.
Clients' 7(a) loan was referred to Treasury's Bureau of Fiscal Service for enforced collection in 2015. They not only personally guaranteed the loan, but also pledged their primary residence as additional collateral. One of the clients filed for Chapter 7 bankruptcy thinking that it would discharge the SBA 7(a) lien encumbering their home. They later discovered that they were mistakenly advised. The Firm was subsequently hired to review their case and defend against a series of collection actions. Eventually, we were able to negotiate a structured workout for $180,000 directly with the SBA, saving them approximately $250,000 (by reducing the default interest rate and removing Treasury's substantial collection fees) and from possible foreclosure.
Client personally guaranteed an SBA 7(a) loan to help with a relative’s new business venture. After the business failed, Treasury was able to secure a recurring Treasury Offset Program (TOP) levy against his monthly Social Security Benefits based on the claim that he owed over $1.2 million dollars. We initially submitted a Cross-Servicing Dispute, but then, prepared and filed an Appeals Petition with the SBA Office of Hearings and Appeals (SBA OHA). As a result of our efforts, we were able to convince the SBA to not only terminate the claimed debt of $1.2 million dollars against our client (without him having to file bankruptcy) but also refund the past recurring amounts that were offset from his Social Security Benefits in connection with the TOP levy.
The client personally guaranteed an SBA 504 loan balance of $375,000. Debt had been cross-referred to the Treasury at the time we got involved with the case. We successfully had debt recalled to the SBA where we then presented an SBA OIC that was accepted for $58,000.
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