Question. What is the Treasury Offset Program Answer.The Treasury Offset Program (TOP) is a centralized offset program, administered by the Bureau of the Fiscal Service’s Debt Management Services (DMS), to collect delinquent debts owed to federal agencies and states, including defaulted SBA loans that the agency has transferred to Treasury. It is not subject to… [Read More]
What can the Treasury take to satisfy a defaulted SBA loan balance?
July 27, 2014 by Benjamin Stolz, Esq.
Question.What can the Treasury take to satisfy a defaulted SBA loan balance? Answer. The Treasury Offset Program is not subject to a statute of limitations and can collect on the defaulted SBA loan indefinitely. The Treasury can, among other things, garnish wages, even in states where wage garnishment by creditors is generally prohibited. The Treasury… [Read More]
Filed Under: IRS Tax Refund, Military Retirement Garnished, Retirement Benefits Garnished, SBA-loan-default, Social Security Benefits Garnished, Treasury Offset Program, Wage Garnishment Tagged With: civil service retirement benefits, collection, federal tax refund, garnishment, how much, social security benefits, treasury offset