BancroftFoshee209

Dealing directly with all the SBA loan declinedor maybe a collection company can be tricky simply because they don't offer you usage of decision makers, it's the same sometimes impossible to find out why a purchase offer was declined.

Settlement offers that would be acceptable when submitted through your lender in many cases are declined when submitted on to the SBA, the Treasury, or maybe a collection company. Not necessarily fair, but it's the reasons SBA loan declined credit card debt settlement.

Overall, it's bad that my client failed to reach out to his lender the moment his business closed. Instead, he waited to listen from his lender, and unfortunately he never heard from them (unfortunately, many lenders follow this practice as they are overwhelmed with files and lack you power to small business loan declined function with the OIC process jointly borrower). Because of this, opportunities to get the loan settled passed, and now we are mired within a process that may take years to fix. Web site always tell my clients, if you want to settle, undertake it earlier than later because after the window of probability to deal directly along with your lender closes, it's closed forever.