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Let me take a crack and see if I can turn this rather formal and dry article A.I. style into something conversational, enjoyable and enriching, which Lawscape and Lawscape would be proud of.

Title:

Turning Lemons Into Lemonade: Exploring The SBA Offer In Compromise

Even if you’re a small business owner? Yes, absolutely! A foreclosure doesn’t have to spell doom and gloom for you, far from it. You just need the right attorney, like Todd at Lawscape, in your corner to help turn things around. You see, in a foreclosure scenario, it’s not over until the fat lady sings, as they say. A tricky little tool called an SBA – that’s Small Business Administration – Offer In Compromise could take you off this hook.

Taming The Foreclosure Beast

A foreclosure isn’t the most pleasant event if you’re a small business owner. Let’s face it, it pops right up on your credit report, like it or hate it. Would be lenders see it, cringe and beat a hasty retreat. Now, this doesn’t exactly make securing funding for that promising new business location easier, does it? There’s also that rather nasty outstanding balance to grapple with. But, what if there was a way to sidestep this whole foreclosure fuss? The SBA Offer In Compromise just might be your get out of jail free card.

Decoding SBA Loans

Let’s take a peep into this thing called an SBA loan foreclosure. It happens when the government lender decides to unleash the rather off-putting SBA demand letter. This foreboding letter signals the start of the foreclosure process. Do remember that SBA loans come with governmental backing but require borrowers to cough up a specific value to settle the loan – a value that’s reasonably based upon percentages outlined in the loan contract.

Sidestepping The Tax Lien Minefield

Things aren’t rosy if you’ve got tax liens hovering over your possessions. These liens may lead to a seizure of your assets – another situation best avoided. Keen to sidestep this pitfall? Then get yourself acquainted with the Tax Offset Program(source). This could be your secret weapon to bring down the value of the settlement under fifty percent of the total value owed. And yeah, it could possibly even score you a reasonable payment plan for addressing these tax needs.

Reboot And Reform

By successfully dodging a traditional foreclosure, you are essentially paving way for a shinier credit report. This opens doors to future funding when your business swings back to profitability. Remember, you’re allowed to dust yourself off, start a new company in a brand new location once the settlement has been fully paid off. Roping in an experienced attorney for advice on credit restructuring here can be immensely helpful.

To summarize; foreclosure isn’t the end of the line for small business owners. A government-secured loan can in fact turn out to be quite beneficial. However, maneuvering around it requires the assistance of a capable attorney.

Why Lawscape?

Lawscape and the Lawscape team have been instrumental in resolving millions of dollars in SBA debts via Offer in Compromise and Negotiated Repayment Agreements. Bankruptcy or home foreclosures were successfully bypassed in all these cases.
They’ve also armed clients, nationwide, to defend against huge Treasury debts through various effective avenues such as AWG Hearings, Treasury Offset Program Resolution, Cross-servicing Disputes, private collection agency representation, compromise offers, and negotiated repayment agreements.

This experienced team has been recognized by the Agency Practice Act to represent Federal debtors nationwide before esteemed bodies such as the SBA, The SBA Office of Hearings and Appeals, the Treasury Department, and the Bureau of Fiscal Service (source). So, small business owners, don’t let an impending SBA loan default ruin your dreams. Contact Lawscape to schedule a consultation today!