SBA Guaranteed Loans in Default: Local Seminars to Explain Your Options.
Second Wind Consultants is organizing a series of seminars designed to bring our strategies to you, the borrower in default. These strategies help defaulted borrowers preserve their assets and reduce personal guaranty on defaulted SBA guaranteed loans to affordable losses.
SBA Guaranteed Debt Workout Seminars in New England
Our offices are located in Western Massachusetts. We are able to reach out to borrowers in default throughout New England and will bring our program to various convenient locations in order to educate you about the options we provide.
There is a huge need for this information; we understand this because we talk to hundreds of borrowers in default every week. We understand what’s at risk and what will happen to them if our strategies are not taken advantage of. We understand that businesses will be lost, homes will be foreclosed upon, jobs lost and families broken up… a total disaster.
We also understand there are no real viable alternatives. Many believe bankruptcy is an option, and while it may be, it is not a very good one. It will cost you your business and likely require filing for personal bankruptcy to rid you of personal guaranties. If the SBA attaches to your home, then it too may be in jeopardy, depending on many factors.
This much we do know: We can prevent foreclosure on assets, and reduce the personal guaranties to pennies on the dollar.
Watch for notice of our local seminars. There will be NO entry fees and the value will be priceless for many. It may even save your family from destruction.
Call us if you want additional information about upcoming seminars at 413-584-2581. Or, Norm can arrange a no-obligation teleconference for your own personal seminar with an evaluation and proposed strategy.
Hello,
Two years ago our business went belly up. We sold our home, cashed out our retirement, sold everything we could but the kids and settled our debts, all but the SBA loan of 55,000. They would not even talk about it until virtually all we had was gone to other lenders.
Last year I submitted an offer in compromise to the SBA through Bank of America. It took several months and lots of paperwork but in the end, as we have no assets they accepted $6200 which we paid. Did not hear another word until a year later when the US dept of Treasury – FMS sent us a letter stating that the debt was now $6500 larger, not smaller and that if not paid immediately they would get it out of us one way or another. I called and was told that I had 72 hours (over a weekend) to get all documentation to them before my case went to a review board. I submitted the original offer, a copy of an e-mail stating our payment had been received and a copy of my check having cleared my bank. Have not heard anything further and it’s been 2 months. Do I need to pursue this? The bank would not give me a copy of the final agreement that I signed, stating that it is an “Internal document” which they can not release, even though it already came out to me for my signature.
Please advise. This is scary. Sarah
I have regretably gotten myself into thousands of dollars in debt and need to make some forward progress. I would like to consolidate my loans but I am not sure of the best way to go about doing that. Does anyone have any advice?
Better you should do a debt workout and lose the debt all together. call us for a review 413-584-2481