Let’s Talk SBA Offer in Compromise – A Customer’s Guide

Running a small business and experiencing a loan default can be heart-stopping stuff. It’s more than just a financial hit—you could lose all the assets you’ve worked so hard for in the blink of an eye. Notwithstanding, to dodge a total blowout, there’s something called an SBA Offer in Compromise. It could be your lifeboat in stormy financial waters.

Loan Closure via Compromise

Suppose your lender signs off on a deal, well, you could effectively close out your loan – it’s that straightforward. Lawscape from the Lawscape would be in your corner here—working elbow to elbow with your lender to identify the most agreeable compromise.

This compromise, you see, would include a figure that’s less than the total remaining balance. It’s like a quick exit strategy—an escape hatch, so you can square your debt without any lingering obligations to your lender. It’s kind of like a financial peace treaty.

Bankruptcy – Not the Best Bet

The tricky business with bankruptcy is, you’ve gotta qualify for the chapter you’ve chosen. opting for chapter 13? That comes with a mandate to settle a fixed balance monthly. Suppose you can’t make these payments – well, your case is tossed out, and you’re back to square one.

Worse still, the bankruptcy dirt sticks around on your credit history for a decade at least. That’s a door slam on new credit lines—a catastrophic blow if you’re looking to rebuild. Hence, when battling an SBA loan default, a compromise eclipses bankruptcy by a sizable stretch.

Managing Loan Default

Heed my words – if you fumble the default, you might face foreclosure. Once the SBA demand letter is in your hands, the foreclosure gears start grinding already. At this juncture, your lender has the all-clear to swoop in and seize your property. That means they could acquire your business property and all assets via foreclosure.

Business proprietors require assistance in managing their SBA loan. By promptly tackling the problem at its onset, you can stave off potential snags and avert financial ruin. Suppose you’re deliberating about entering a compromise or a [Tax Offset Program](https://www.fiscal.treasury.gov/top/); it’s time to get Todd or one of his team members on the phone.

Why Us – Lawscape?

Gonna talk numbers here. Todd’s team has resolved Millions of Dollars in SBA debts through Offer in Compromise and Negotiated Repayment Agreements. That’s without the clients having to file for bankruptcy or deal with the heartache of a home foreclosure.

On the Treasury Debts front – they’ve put up a robust defense, successfully arbitrating cases via AWG Hearings, Treasury Offset Program Resolution, Cross-servicing Disputes, Private Collection Agency Representation, Compromise Offers, and Negotiated Repayment Agreements.

Backing that up, our legal agents are sanctioned by the Agency Practice Act. They can represent Federal Debtors throughout the nation before the [SBA](https://www.sba.gov/), [The SBA Office of Hearings and Appeals](https://www.sba.gov/about-sba/organization/oha), [the Treasury Department](https://home.treasury.gov/), and [the Bureau of Fiscal Service](https://www.fiscal.treasury.gov/). Time to call in the cavalry.