With the guidance and support of experienced SBA loan attorneys from Protect Law Group, you can find a concrete path to SBA debt resolution. Learn now.
Book a Consultation CallAs a small business owner, dealing with SBA loan problems can be overwhelming and have a significant impact on your business and personal finances. Protect Law Group understands the challenges you face and specializes in providing concrete solutions to settle SBA debt. In this blog, we will discuss the key insights every small business owner should know about SBA forgiveness, shedding light on how our experienced SBA loan attorneys can help you navigate this complex process.
At Protect Law Group, our team of Federal Agency Practitioners and SBA Attorneys are well-equipped with the knowledge and expertise in six core disciplines necessary to resolve SBA loan problems. These strategies include deferment, administrative representation, SBA Offer in Compromise (SBA OIC), administrative litigation, negotiations, and SBA Office of Hearings & Appeals representation. With their extensive background in finance, law, litigation, risk management, and negotiations, our team is dedicated to minimizing damage to your business or personal asset base.
SBA loan problems involve intricate legal and financial aspects that require a specialized understanding of constitutional law, contract law, federal administrative law & procedure, commercial & banking litigation, risk management, asset exemption protection, bankruptcy law, and negotiations. Our SBA loan lawyers possess the necessary expertise to guide you through these complexities, ensuring the best possible outcomes for your business.
Working alongside experienced SBA loan attorneys is crucial when dealing with SBA forgiveness. They understand the intricacies of the SBA program and can develop tailored strategies to negotiate and settle SBA debt on your behalf. Their legal expertise and comprehensive knowledge empower them to protect your rights and assets while pursuing the most favorable resolution for your SBA loan problems.
When it comes to SBA debt settlement, our team of professionals at Protect Law Group strives to negotiate with creditors and the SBA to achieve the best possible outcome for our clients. By leveraging their expertise in finance, law, and negotiations, our SBA loan attorneys work diligently to settle your SBA debt through various strategies, such as SBA Offer in Compromise, administrative representation, and litigation. We aim to minimize the financial impact on your business or personal assets, allowing you to move forward with confidence.
Navigating SBA forgiveness and settling SBA debt can be an arduous journey for small business owners. However, with the guidance and support of experienced SBA loan attorneys from Protect Law Group, you can find a concrete path to resolution. Our team's expertise across finance, law, litigation, and negotiations ensures that your SBA loan problems are handled with utmost care and efficiency. Don't let SBA debt hinder your business's growth — contact our knowledgeable SBA loan attorneys to find the optimal solution for your unique circumstances.
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 received the SBA's Official 60-Day Notice for a loan that was obtained by her small business in 2001. The SBA loan went into default in 2004 but after hearing nothing from the SBA lender or the SBA for 20 years, out of the blue, she received the SBA's collection due process notice which provided her with only one of four options: (1) repay the entire accelerated balance immediately; (2) negotiate a repayment arrangement; (3) challenge the legal enforceability of the debt with evidence; or (4) request an OHA hearing before a U.S. Administrative Law Judge.
Client hired the Firm to represent her with only 13 days left before the expiration deadline to respond to the SBA's Official 60-Day Notice. The Firm attorneys immediately researched the SBA's Official loan database to obtain information regarding the 7(a) loan. Thereafter, the Firm attorneys conducted legal research and asserted certain affirmative defenses challenging the legal enforceability of the debt. A written response was timely filed to the 60-Day Notice with the SBA subsequently agreeing with the client's affirmative defenses and legal arguments. As a result, the SBA rendered a decision immediately terminating collection of the debt against the client's alleged personal guarantee liability saving her $50,000.
Clients obtained an SBA 7(a) loan for their small business in the amount of $298,000. They pledged their primary residence and personal guarantees as direct collateral for the loan. The business failed, the lender was paid the 7(a) guaranty money and the debt was assigned to the SBA. Clients received the Official 60-Day Notice giving them a couple of options to resolve the debt balance directly with the SBA before referral to Treasury's Bureau of Fiscal Service. The risk of referral to Treasury would add nearly $95,000 to the SBA principal loan balance. With the default interest rate at 7.5%, the amount of money to pay toward interest was projected at $198,600. Clients hired the Firm with only 4 days left to respond to the 60-Day due process notice. Because the clients were not eligible for an Offer in Compromise (OIC) due to the significant equity in their home and the SBA lien encumbering it, the Firm Attorneys proposed a Structured Workout to resolve the SBA debt. After back and forth negotiations, the SBA Loan Specialist assigned to the case approved the Workout terms which prevented potential foreclosure of their home, but also saved the clients approximately $294,000 over the agreed-upon Workout term with a waiver of all contractual and statutory administrative fees, collection costs, penalties, and interest.
.jpg)
.jpeg)
