Can I Discharge my Defaulted SBA Loan in Bankruptcy?

Question. Can I Discharge my Defaulted SBA Loan in Bankruptcy? Answer: With the exception of student loans, most government loans including SBA loans are routinely discharged in bankruptcy. Surprisingly, many debtors still believe that government loans cannot be discharged in bankruptcy. However, if a guarantor pledged any assets, whether business or personal, as additional collateral… [Read More]

Will the SBA Accept My Offer in Compromise?

Question. Will the SBA Accept My Offer in Compromise? Answer. There is no way to know. Period. There are so many variables: 1. Who handles your file; 2. What SBA office is handling your file; 3. Your level of cooperation with the lender, both real and perceived; 4. Whether you have liquid assets vulnerable to… [Read More]