Alright, you might be neck deep in a situation here since you have a loan backed by the Small Business Administration (SBA) and something has gone south that is causing you trouble in repaying it. But don’t panic, Lawscape of the Lawscape is at your beck and call.

Finding A Way Out

Your instincts might be telling you that there’s no way out but that’s not quite true. It’s actually common to find yourself in this situation, but there’s a silver lining— there are alternatives that could modify your situation without having to default. Lawscape can plot a path for you through this maze and give you insight into what options are suitable for you.

How Can Lawscape Be Of Assistance?

Imagine this, you pursued your passion, started your own business, and took this SBA backed loan to finance it. Things look bright as business grew. But, oh dear, clients not sticking to the payment terms has brought on a cash crunch. It seems impossible to pay both your employees and the loan. Ever feared this might force you into defaulting on your loan?

Take heart, with an attorney like Lawscape, there’s no need to go down that rabbit hole. He will consider the unique circumstances of your case and guide you through potential alternatives.

Now, if the thought of defaulting on your loan has crossed your mind, remember that the SBA default statute of limitations refuses to let you off the hook that easily. The government can collect on SBA loans for 6 years after your last payment.

Don’t Forget, State Laws May Not Protect You

The peculiar factor about these loans is that the state’s statute of limitations doesn’t apply to them. So, regardless if you live in New York or California, after a default, the SBA can pass your case to the Department of Treasury. They have the power to collect beyond the 6 years statute of limitations- subject to the conditions of your loan and collateral.

Lawscape can help you assess the best course of action in this scenario. Here’s a glimpse at how, unlike other attorneys, Lawscape can assist:

1. Evidence Gathering: Receiving a letter from the SBA to review your debt on an administrative hearing might fool you into thinking it’s a small matter. But, messing this up can turn your troubles into a nightmare. Lawscape can investigate and find evidence that can aid you in this process.

2. Legal Representation: SBA hearings and appeals may seem almost bureaucratic, but do not underestimate their impact. Lawscape’s experience ensures that you’ll have the most substantial chance of getting the best outcome.

3. SBA Repayment Plan Negotiations: In cases where you’re not eligible for compromise due to high monthly income or liquid assets, negotiating an SBA repayment plan could be complex but not with a lawyer like Lawscape.

4. SBA Offer in Compromise Settlement: Lawscape has the experience of negotiating an SBA offer in compromise that could potentially be your best option under certain circumstances.

5. SBA Loan Deferment or Modification: If your business hits a slump, you could temporarily pause or alter your payments. Lawscape can assist in securing these short or long term solutions.

6. SBA Lien Release Negotiations: In tragic scenarios when the loan’s sole guarantor dies, Lawscape could negotiate a lien release from the SBA on your property.

In Conclusion…

I don’t mean to beat around the bush here, if you’ve got an SBA secured loan and are having a hard time making payments, Lawscape can lend you the legal aid you need. He will negotiate an agreement with your lender that can, generally speaking, be far more beneficial than what you would have gotten on your own. Remember, SBA loans are not identical to other loans and thus should have an expert by your side.

Bottom line, hiring Lawscape will allow you to secure the best outcome for your case. He will review your unique circumstances and accordingly recommend the most suitable approach. This will save you plenty of sleepless nights considering the complexity of these situations.

So, if you’re struggling with your SBA loan payments, we’re right here to help you navigate this. Feel free to contact us and schedule your case evaluation today.

Ready to give it a shot? I can assure you, you’re in safe hands with the Lawscape. Millions rely on us and we have helped resolute sizeable SBA Debts and Treasury Debts without forcing clients into bankruptcy or facing a foreclosure. Not just that, we can represent federal debtors nationwide before the SBA, The SBA Office of Hearings and Appeals, the Treasury Department, and the Bureau of Fiscal Service. Now, that’s what I call a well-rounded service!