statute of limitations | Perliski Law Group

Can the SBA Sue More than 6 Years Later?

July 27, 2014 by Benjamin Stolz, Esq.

Question. Can the SBA Bring a Contract Action More than 6 Years After the Default? Answer. 28 U.S.C.§ 2415(a) establishes the federal statute of limitations applicable to SBA actions to recover under contract. Under this statue the SBA has 6-years to file suit to recover under the contract for non-payment under the Note. More specifically,… [Read More]

Filed Under: Fraudulent Transfers, SBA Statute of Limitations, SBA-loan-default Tagged With: asset transfer, fraudulent conveyance, guarantor, jail, sba, statute of limitations

What if my Note is purchased by a third-party. How long do they have to sue me?

July 27, 2014 by Benjamin Stolz, Esq.

Question.What if my Note is purchased by a third-party. How long do they have to sue me? Answer: In Texas, the answer is settled, but in other states this answer may vary. In FDIC v. Bledsoe, 989 F.2d 805 (5th Cir.1993),the Fifth Circuit held that assignees of the federal government are entitled to the six-year… [Read More]

Filed Under: SBA Statute of Limitations, SBA-loan-default Tagged With: assignee, Fifth Circuit, SBA. Note, statute of limitations, Texas