Category Archives: Offer in Compromise

How Much Should The Offer In Compromise Be?

Posted on September 17, 2010 by Donald Todrin

How much should you offer in an Offer in Compromise for an SBA guaranteed loan in default? It’s a great question, and the answer is this: determining the number is both an art and a science, significantly influenced by basic … Read More

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Don’t Give Up! Quitting Is Not An Option.

Posted on August 18, 2010 by Donald Todrin

I live by this rule and it is sometimes extremely difficult. It tests my resolve and my commitment. It is one of my terms, my living standards. It’s my character, it’s whom I am. I do not give up. I … Read More

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What If I Want To Do A Loan Workout But My Partner Doesn’t And We Both Guaranteed The Loan?

Posted on August 2, 2010 by Donald Todrin

Often, one partner wants to do the workout and the other does not. This happens frequently. Partners have different financial conditions, different attitudes and different objectives, which may result in different workout strategies. This really is not a problem for the … Read More

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OK, You Attacked the Banker, Threatened Litigation and Had Your Lawyer Write A Threatening Letter. Now What?

Posted on June 28, 2010 by Donald Todrin

I see this more often than I would like. On occasion, small business owners are outraged by what appears to be an unreasonably aggressive, unsympathetic banker refusing to cooperate and making impossible demands. Business owners get aggressive and insulting, they refuse to cooperate and, worse yet, engage their lawyers to “get” the banker. Read More

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

Posted on June 4, 2010 by Donald Todrin

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. Read More

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