In an SBA loan default, talk to an attorney about an SBA offer in compromise and other debt options.
For the small business owner, an SBA loan default and other debts can be personally and professionally devastating. The bank isn’t concerned, because their SBA-backed loan losses are largely covered by the Small Business Administration.
The business owner is left with questions about how to deal with the SBA loan. In addition, the business owner often has other debts incurred in an attempt to keep the business afloat – credit card debt, home equity loans, loans from friends and family members.
It is important to deal with all debt issues in a thoughtful manner, considering all legal issues and the many details that can derail the best of plans. At McCarthy Law PLC, a lawyer can work with you to deal with small business debts.
- A lawyer can represent you in making an offer in compromise to the SBA and the bank, determining all the factors involved in determining the lowest acceptable offer.
- What actions could jeopardize a full release from the bank and the SBA? An attorney experienced with SBA loans can guide you.
- Our law firm will review the SBA loan and all other accumulated debts related to the business.
- Would bankruptcy be a better option than an SBA offer in compromise?
An experienced attorney’s advice, representation and negotiations can make a substantial difference in the debt settlement, including the SBA offer in compromise.
In a free consultation, ask about our flat fee and success fee arrangements for clients.
The first step in negotiating your SBA loan default and other business debt issues begins with a FREE consultation at McCarthy Law PLC. Contact Us for a FREE consultation.