HomeSBA Loan Default – The 60 Day Letter

SBA Loan Default – The 60 Day Letter

We Reduce Business Debt

Lawscape is dedicated to helping business owners successfully resolve their business debt without headaches, or long term consequences.

We Provide Nationwide Business Debt Relief

Lawscape provides nationwide business debt relief services. We work a wide array of lenders, service providers, and types of business debt. We are able to restructure and reduce, all types of secured and unsecured business debt. 

Millions of Dollars in Debts

Our team has experience handling 10’s of millions in debt, ranging from SBA debt, to Merchant Cash Advance and more. 

All Types Of Debt

Regardless of the type of business debt you have, we can help. We have experience handling all types of secured and unsecured business debt. 


Our company is led by experienced business debt relief experts who have experience handling secured and unsecured debt nationwide. 

Failing To Repay Business Debt Isn’t The End

Many business owners think failing to repay business debt means: your business is over.

This simply isn’t true. Business debt is a problem which CAN be handled, just like everything else; but only if you take pro-active steps. Lawscape helps you understand the law, and works with you to make sure that business debt isn’t the end of your business. 

What Are Some Ways We Can Help With Business Debt Relief?

Our experienced business debt relief consultants are here to help you through this stressful time. 

Demystifying the SBA Loan Default – The Lifesaving Import of the 60 Day Letter

Isn’t it grueling to navigate the complicated realm of SBA debt settlement and dodge the unstoppable waves pressing in from all sides? Well, you’re in luck! Lawscape of the Lawscape is your dedicated lifeboat in this stormy sea of debt. We are here for one reason only – to hack the way through the thorny path leading to your SBA loan clearance.

What You Enter Into With a Defaulted SBA Loan

When you trip onto the unpleasant land of SBA loan default, something called a “60 day letter” awaits your attention. By law, creditors must issue this communication a minimum of 60 days before your delinquent debt is transferred onto the Department of the Treasury’s Financial Management Service for collection – a process known as cross-servicing.

Decoding the 60-Day Letter

It’s like a Pandora’s Box of information about your debt – everything from your total owed to future penalties. Specifically, your 60-day letter must illustrate:

* The specifics and totals of your debt, including the rationale for its existence.
* Details of how interest, penalties, and admin fees are piling up onto your debt.
* The date, last call for payment before late charges accrue and enforced collection rattles at your door (typically, 30 days from when the letter is postmarked).
* A person or office in the creditor agency for all your queries.

If You Can’t Pay…

This letter also spells out how our federal agency will unleash collection if you can’t loosen the purse strings in time. Here’s a sneak peek at what waits around the corner:

* The federal government can and will offset your payments, such as income tax refunds, salary, certain benefits, retirement, vendor and travel reimbursements, and advances.
* Your debt may be tossed into the arms of a private collection agency.
* A credit bureau may receive a report of your outstanding debt.
* Your wages can be garnished administratively (no court order needed).
* Brace yourself; the debt can be referred to the Department of Justice for litigation based on Executive Order 12988.
* The debt’s future may lie with the U.S. Department of the Treasury for any of these described collection moves (keep in mind that this is compulsory if your debt is 180 days in the red).

Can the Debtor Catch a Break?

As the debtor, you’re not completely defenseless. The 60-day letter will guide you on how to:

* Access and copy records tied to your debt.
* Demand an agency review of their debt determination.
* Request for applicable waivers.
* In case of salary offset or administrative garnishment, how to chase a hearing.
* Forge a fair written repayment agreement.

An Umbrella for the Debtor

There’s also a list of your rights, all laid out in the 60-day letter:

* Reminder to inform the agency if you declare bankruptcy.
* The wrath that awaits anyone who knowingly sprouts false or frivolous claims.
* Assurance that any excess collections will find their way back into your pocket, provided there’s no legal restriction.
* For federal salary offsets, up to 15% of your current disposable income could be lopped off every pay period till the debt is settled.
* Joint tax filers, do pay attention! If you want to have your share of the tax refund, do file Form 8379 with the IRS.

Your Rights Hang in the Balance!

In the absence of any of the information described above, your rights could be impaired, offering a chance for you to claim relief. Battling scenarios that involve SBA loan defaults single-handedly can get murky and draining. That’s where we swoop in! The Lawscape is armed with a team of seasoned attorneys who boast an impressive streak of winning SBA OIC cases. Your solution is just a phone call away! We can offer you the peace of mind you deserve, once and for all.

Leave your SBA Loan Problems to Us!

Our seal of excellence is founded on million-dollar SBA debt settlements handled expertly, with Offer in Compromise and Negotiated Repayment Agreements featuring regularly in our repertoire. And here’s the best part – our clients didn’t have to file for bankruptcy or fend off home foreclosure!

We’ve also stood as a defense line against million-dollar Treasury Debts, skillfully navigating AWG Hearings, Treasury Offset Program Resolution, Cross-service Disputes, handling Private Collection Agency Representation, offering Compromise Proposals, and establishing Negotiated Repayment Agreements.

Regardless of Your Location, We’re Here for You!

Take heart! Our team at the Lawscape, backed by the Agency Practice Act, is authorized to represent Federal Debtors throughout the nation before the SBA, SBA Office of Hearings and Appeals, the Treasury Department, and the Bureau of Fiscal Service. Let us handle the complexities of your SBA loan default. So, are you ready to let go of your SBA debt? We’re only one consultation away!

Lawscape Can Help You Manage Your Business Debt

If you’re struggling with business debt, we can help you understand your situation. During the initial consultation, we’ll go over the contract, and other legal documents you signed. After that, our firm will work with you to get a better understanding of your situation, and help you come up with a game plan that keeps your business alive. 

We Handle It All


Merchant Cash Advance


SBA Debt Relief


Secured Business Debt


Unsecured Business Debt

Everyone has different types of business debt. What matters is that you take it seriously. Regardless of whether it’s secured, or unsecured, you need to work with a firm that understands how to negotiate, reduce, settle, and manage, this business debt. 

Discuss your situation today

We are here to help you, and want nothing more than to help you save your business. Speak to our business debt relief specialists today.

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