AmberlyHarrigan890

Dealing directly using the SBA loan declinedor possibly a collection company can be difficult because they don't offer you access to decision makers, so it will be sometimes impossible to find out why an offer was declined.

Settlement offers that will be acceptable when submitted from your lender are often declined when submitted on to the SBA, the Treasury, or even a collection company. It's not fair, but it's the reasons SBA loan declined debt negotiation.

Overall, it's too bad that my client failed to contact his lender the minute his business closed. Instead, he waited to know from his lender, and unfortunately he never heard from them (unfortunately, many lenders follow this practice since they are overwhelmed with files and lack the person full small business loan declined process the OIC process jointly borrower). As a result, a chance to get the loan settled passed, and that we are mired in a process that may take years to resolve. When i always tell my clients, if you need to settle, do it prior to later because when the window of probability to deal directly using your lender closes, it's closed permanently.