My state has a four-year statue of limitations on contract actions. How can the SBA sue after it has expired?

Question.My state has a four-years statue of limitations on contract actions. How can the SBA sue after it has expired? Answer. It is settled law that state limitations statutes are relevant in determining a claim’s viability at the time the federal agency acquires the claim.  If the state statute of limitations has expired before the… [Read More]

What is the U.S. Treasury Offset Program?

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]

How can I avoid my delinquent disaster loan being referred to the U.S. Treasury for enforced collection?

Question.How can I avoid my delinquent disaster loan being referred to the U.S. Treasury for enforced collection? Answer. You must contact an SBA Treasury Offset Representative prior to your loan being referred to the Department of the Treasury to set up acceptable payment arrangements. Once your loan has been referred to the U.S. Treasury, you… [Read More]