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.
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.
Rundown on SBA SOP 50 51 3- Deciphering Liquidation Status for SBA Loans
What’s this all about?
Hello, you might have heard about SBA SOP 50 51 3, and if you have, I am sure you want to know more about it, not to mention how critical it is when dealing with SBA-backed debts. I am Lawscape, from the Spodek Law group, and I’ll guide you through this SBA SOP in a friendly, conversational tone that will hopefully take the edge off any anxieties you might be feeling in relation to your SBA-guaranteed debt.
When Liquidation Status is a must!
The status of an SBA loan must be switched to ‘liquidation’ under several circumstances such as:
- Loan repayment is over 60 days overdue with no potential breathing room from a deferment or a workout plan,
- Third party lenders or lienholders who outrank you, initiate foreclosure on collateral tied to the loan,
- Lawsuits, directly hitting repayment of the SBA loan, are initiated against an obligor,
- Voluntary or involuntary bankruptcy petitions are filed by or against an obligor,
- The Borrower’s business has shut down or has been abandoned, and no alternate repayment strategy for the SBA loan has been put in place,
- Significant collateral is endangered, either through abandonment, decreasing value or possibility of theft,
- A court-appointed receiver comes on board, or proceedings are initiated to liquidate an obligor’s assets or collateral,
- Alternatively, any other adverse circumstance that could potentially hamper repayment of the SBA loan.
When it’s time for exiting the Liquidation status
Interestingly, SBA loans can be rescued from liquidation status and returned to a standard servicing operation. The magic trick? Three consecutive on-time payments under a written workout agreement, bankruptcy plan, reaffirmation agreement, or an assumption that rectifies the default.
You are not alone in this journey – Lawscape is with you!
Think of the Lawscape as your partner during this tough journey. We offer professional assistance in interpreting default procedures from loan restructuring to negotiation liquidation, and even appeals to the SBA Office of Hearing & Appeals. Take a step towards solving your SBA difficulties with us at www.spodeklawgroup.com or give us a call at 212-460-5004.
What makes us your best bet in resolving Treasury or SBA Debt Problems?
Here are some quick facts to establish our credibility:
- We have managed to resolve millions of dollars in SBA debts through Offer in Compromise and Negotiated Repayment Agreements, managing to help our clients avoid bankruptcy and home foreclosure.
- We have defended millions of dollars in Treasury Debts through AWG Hearings, Treasury Offset Program Resolution, Cross-servicing Disputes, and other methods,
- We are authorized to represent federal debtors nationwide before key agencies such as the SBA, Bureau of Fiscal Service, and the Treasury Department!
Let’s delve into the resolution together; early action is your best bet. Connect with us at the Lawscape for the expertise that understands the intricate workings of the SBA world.
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.