Protect Law Group, a team of SBA attorneys, serves clients throughout the United States specializing in debt relief for SBA loans. When it comes to finding top-quality debt relief for your small business, you want a team that’s experienced in the nuances of SBA loans. See what sets Protect Law Group apart from other firms in the industry and contact us to get started today!
One of the key factors that make Protect Law Group different from other firms is our strong track record of success. Over the years, our SBA attorneys have helped countless individuals and small businesses overcome their SBA loan issues, negotiate with the SBA, and settle debts. With our experienced attorneys, Protect Law Group has become a go-to firm for any small business looking for SBA loan default problems or debt recovery solutions.
Another factor that sets Protect Law Group apart is our ability to resolve millions of dollars in debt for our clients. We work closely with the SBA and lenders to negotiate settlements and payment plans that are manageable for our clients. This not only helps small businesses get out of debt but also helps to improve their business!
During this evaluation, our team will review your SBA loan situation and offer paths of potential resolution. We believe that this helps clients understand their options and make informed decisions about how to proceed. Additionally, this consultation ensures that clients have a clear understanding of what to expect from the firm before engaging in our services.
Protect Law Group has a team of experienced SBA attorneys that work closely with our clients to help them overcome their SBA loan default. Whether you need help with SBA loan negotiation, SBA debt relief, or other debt recovery solutions for your small business, Protect Law Group is a reliable and trustworthy choice. We proudly serve clients throughout the United States. Contact us today to schedule a consultation and take the first step toward a brighter financial future!
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 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.
Client's small business obtained an SBA COVID EIDL for $301,000 pledging collateral by executing the Note, Unconditional Guarantee and Security Agreement. The business defaulted on the loan and the SBA CESC called the Note and Guarantee, accelerated the principal balance due, accrued interest and retracted the 30-year term schedule.
The loan was transferred to the Treasury's Bureau of Fiscal Service which resulted in the statutory addition of $90,000+ in administrative fees, costs, penalties and interest with the total debt now at $391.000+. Treasury also initiated a Treasury Offset Program (TOP) levy against the client's federal contractor payments for the full amount each month - intercepting all of its revenue and pushing the business to the brink of bankruptcy.
The Firm was hired to investigate and find an alternate solution to the bankruptcy option. After submitting formal production requests for all government records, it was discovered that the SBA failed to send the required Official 60-Day Pre-Referral Notice to the borrower and guarantor prior to referring the debt to Treasury. This procedural due process violation served as the basis to submit a Cross-Servicing Dispute to recall the debt from Treasury back to the SBA and to negotiate a reinstatement of the original 30-year maturity date, a modified workout, cessation of the TOP levy against the federal contractor payments and removal of the $90,000+ Treasury-based collection fees, interest and penalties.
Client personally guaranteed SBA 7(a) loan for $350,000. The small business failed but because of the personal guarantee liability, the client continued to pay the monthly principal & interest out-of-pocket draining his savings. The client hired a local attorney but quickly realized that he was not familiar with SBA-backed loans or their standard operating procedures. Our firm was subsequently hired after the client received the SBA's official 60-day notice. After back-and-forth negotiations, we were able to convince the SBA to reinstate the loan, retract the acceleration of the outstanding balance, modify the original terms, and approve a structured workout reducing the interest rate from 7.75% to 0% and extending the maturity date for a longer period to make the monthly payments affordable. In conclusion, not only we were able to help the client avoid litigation and bankruptcy, but our SBA lawyers also saved him approximately $227,945 over the term of the workout.
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