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Dealing directly together with the SBA loan declinedor perhaps a collection company can be hard for the reason that don't provide you with use of decision makers, so it's sometimes impossible to find out why a package was declined.

Settlement offers that will be acceptable when submitted through your lender are usually declined when submitted instantly to the SBA, the Treasury, or a collection company. Difficult fair, but it is the reasons SBA loan declined credit card debt settlement.

Overall, it's too bad that my client would not get in touch with his lender when his business closed. Instead, he waited to hear from his lender, and unfortunately he never been told by them (unfortunately, many lenders follow this practice as they are overwhelmed with files and lack the person capacity to small business loan declined process the OIC process with every borrower). Consequently, the opportunity to get the loan settled passed, and we are mired inside a process which may take several years to resolve. As I always tell my clients, in order to settle, apply it before later because as soon as the window of opportunity to deal directly with your lender closes, it's closed for good.