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]

How long do I have to wait between Bankruptcy filings?

After the Bankruptcy Abuse and Consumer Protection Act of 2005 (BAPCPA), the wait times between filing various chapters of bankruptcy changed. For chapter 7 cases, Section 727(a)(8) of the Bankruptcy Code controls and for Chapter 13 filings, Section 1328(f) of the Code controls. These waiting periods are summarized in the following table: Previous Case New… [Read More]