Hello, there. You’re in quite a predicament if you’re dealing with the prospect of defaulting on your SBA loan, I’m sure it keeps you awake at night. But don’t worry, at Lawscape, we’re expert navigators in these sometimes unsettling waters. By taking a long, hard look at your SBA loan woes, we’re able to help you uncover potential solutions to your predicament. Might we recommend considering an SBA offer in compromise?

Fear not, and don’t wrestle with this monster alone. It’s crucial to have an experienced ally in your corner who knows the ins and outs of these seemingly unforgiving scenarios. I kindly invite you to drop us a line for a no-charge initial consultation.

Playing by Rules: ECOA and Spouse’s Personal Guarantee

You might have heard stories about the SBA demanding a borrower’s spouse to co-sign, although they’ve no connection with the business. Now, here’s a bit of law that might come in handy: the Equal Credit Opportunity Act (ECOA). This piece of legislation comes bearing gifts for “disinterested spouses” or those required to guarantee their spouse’s business loans.

Let’s dive into the fine print. Regulation B explicitly states that a lender cannot blindly request a qualified applicant’s spouse to endorse any loan documents. In the Golden State and other community property locales, the lender might compel a spouse to sign, but there are some hoops they first have to jump through. This includes a meticulous inspection of the business’s income and assets, the interested spouse’s income, as well as the jointly owned properties.

Timing matters in law. Although ECOA grants a two-year window to file a complaint rooted in violation, it can be used as an armor of defense without any time limits. So, if you happen to be that disinterested spouse with an imposed guarantee, you can resist the enforcement using, yes you guessed it, ECOA violation defense.

Why Trust Lawscape with Your Treasury or SBA Debt Problems?

Look, we’ve been there and done that a million times over. We’ve successfully resolved a mountainous sum of SBA debts through offer in compromise or negotiated repayment agreements, and without our clients having to file for bankruptcy or risk losing their homes.

And, we boast a similar victory tale for Treasury Debts. Count on us for AWG Hearings, Treasury Offset Program Resolution, Cross-servicing Disputes, or Private Collection Agency Representation. Whoever said compromise was a sign of defeat never negotiated with us.

Your Representatives Nation-Wide

Our attorneys, authorized by the Agency Practice Act, have been playing this game across the nation, covering Federal Debtors before the SBA, the SBA Office of Hearings and Appeals, the Treasury Department, and the Bureau of Fiscal Service.

So, you see there are ways around it, and we’re here to walk you through your journey. We’ll put a strong fight for you, letting no stone unturned in exploring every legal avenue to sail you safely across this overwhelming sea of SBA loan issues. Trust us, we’ve got your back.