Bankruptcy Options for the Small Business Owner
Learn about different bankruptcy options for small business owners. Contact Protect Law Group serving San Diego, Orange, and Los Angeles Counties.
Generally, there are at least seven (7) legal sources to consider reviewing in connection with trying to settle SBA debt, resolve SBA loan default or defend against a DOT collection matter. The seven (7) sources that we believe are essential for research into these important issues are:
When locating certain research sources to settle SBA debt case or defend against a DOT collection matter, we often break our initial research into two (2) parts:
Legal Research Sources Internal to the SBA:
Legal Research Sources External to the SBA:
Hence, there are several branches of legal resources and authorities which need to be researched and reviewed when dealing with any SBA loan default, SBA OIC or DOT debt collection matter. To say that it is okay to simply ignore these important resources, then any SBA or DOT debtor told to do so, has been advised by the non-attorney salesperson who simply does not know what “he” is talking about, and in all reality . . . is providing not only irresponsible advice, but also negligent counsel. Typical . . . I guess for a “non-attorney” who neither has a doctorate, passed a bar exam (or multiple bar examinations), practiced law for several years (but is trying to do so in an arguably unauthorized and illegal fashion) nor worked with such important federal agency issues. Generally, when you don’t possess something . . . human nature tells you to criticize what you don’t possess. It’s nothing more than a “defense mechanism” in order to deal with a severe inferiority complex
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 & DOT debt claims. We are dedicated to helping you settle SBA loan default and/or federal nontax debt with the DOT.
If you are struggling with circumstances that involve SBA loan default and/or a DOT referral, you deserve professional help! Our attorneys all know how to win SBA OIC and DOT compromise cases. If you contact us, we can help you settle SBA debt once and for all. After you schedule an appointment, you confer with a devoted SBA OIC lawyer and/or United States Treasury Dept. Practitioner who will help you through your administrative legal battle. After your claim is resolved, you will never again have to worry about your SBA loan default problem and/or DOT collection claim haunting you. Our team of lawyers has assisted many clients through the years. Now it is your turn! You truly can resolve SBA debt and/or DOT matter for good!
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.
Client personally guaranteed SBA 7(a) loan balance of $58,000. The client received a notice of Intent to initiate Administrative Wage Garnishment (AWG) Proceedings. We represented the client at the hearing and successfully defeated the AWG Order based on several legal and equitable grounds.
Client personally guaranteed SBA 7(a) loan for $150,000. COVID-19 caused the business to fail, and the loan went into default with a balance of $133,000. Client initially hired a non-attorney consultant to negotiate an OIC. The SBA summarily rejected the ineligible OIC and the debt was referred to Treasury’s ureau of Fiscal Service for enforced collection in the debt amount of $195,000. We were hired to intervene and initiated discovery for SBA and Fiscal Service records. We were able to recall the case from Fiscal Service back to the SBA. We then negotiated a structured workout with favorable terms that saves the client approximately $198,000 over the agreed-upon workout term by waiving contractual and statutory administrative fees, collection costs, penalties, and interest.
The client personally guaranteed an SBA 7(a) loan for $150,000. His business revenue decreased significantly causing default and an accelerated balance of $143,000. The 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. We were hired to represent him, respond to the SBA's Official 60-day notice, and prevent enforced collection by the Treasury and the Department of Justice. We successfully negotiated a structured workout with an extended maturity date that included a reduction of the 14% interest rate and removal of substantial collection fees (30% of the loan balance), effectively saving the client over $242,000.