SBA Corrects a Major Injustice… A Little Bit. Disaster Loans Can Be Worked Out… A Little Bit.

Until recently, we have been confronted with a real obstacle to working out SBA disaster loans. Despite the reality that the SBA supports Offers In Compromise granting debt forgiveness in its traditional 7(a) and 504 loans, they have been flat-out unwilling to support Offers In Compromise for disaster loans. While this may seem silly and counterproductive, or inconsistent to say the least, it has been their official position. In fact, we have pursued many worthy cases with limited success.

Recently, however, we have noted a change in policy and eagerly look forward to not only utilizing this partially open door, but as usual we will work hard to open it further, arranging for more than 50% debt forgiveness in a viable Offer In Compromise. This is very good news as previously there was simply no discussion on the matter. Now, the door is open to a settlement negotiation and once the door is open, it will open wider and wider as the need demands.

We at Second Wind Consultants invite all the defaulting disaster loan borrowers to call us. The line is forming and the window is open for business. Debt forgiveness at a 50% rate may not be enough but it is a good starting position. Now we can negotiate and that is a winning opportunity. It is still not an automatic result, quite the opposite as we must fight for every penny forgiven, but now they are willing to negotiate and we know how to deliver the desired results.

Call us, the line is getting longer. 413-584-2581. Norm will arrange a no-obligation teleconference to discuss your options.