No, and here’s why. Settling SBA debt is essentially a matter that is financial. They give you is an approval letter (which you can still have your attorney review) while i’d recommend having an attorney review legal documents such as settlement agreements, in many cases SBA settlements often involve no signing of any agreements at all because all. When engaging you to definitely express you, you’ll need somebody by having a thru familiarity with the SBA process (most lawyer’s don’t), and a knowledge for the philosophy behind SBA settlement policies.

I’ve gotten calls that are numerous the years from lawyers that are wanting to navigate an SBA loan standard on the part of a customer. After they begin carrying out a digging that is little they arrive to comprehend that to be able to effectively settle an SBA loan, it entails a romantic familiarity with the SBA OIC procedure. Continue reading →