DoctorAndrew755

Dealing directly together with the SBA loan declinedor maybe a collection company can be tricky because they don't offer you admission to decision makers, so it is sometimes impossible to learn why an offer was declined.

Settlement offers that might be acceptable when submitted through your lender tend to be declined when submitted right to the SBA, the Treasury, or even a collection company. Difficult fair, but it is the reasons SBA loan declined debt negotiation.

Overall, it's too bad that my client failed to reach out to his lender as soon as 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 you power to small business loan declined process the OIC process with every borrower). As a result, possibilities to get the loan settled passed, and that we are mired inside a process that could take several years to resolve. ?nternet site always tell my clients, if you want to settle, get it done prior to later because as soon as the window of probability to deal directly along with your lender closes, it's closed permanently.