How much should I expect to settle on with my OIC?
The answer to this is complicated. It is determined by multiple factors, which I will describe below.
Background: When a borrower who has a […]
Unsecured Debt
Offer In Compromise Settlements – How Much Should I Expect to Settle For?
SBA Offer In Compromise – How Do You Get The Bank to Accept Your Offer?
Many clients ask me this question…”how do you ensure the bank will accept the lowest possible Offer In Compromise?”
This is a good question, and the answer is not obvious or trivial. But first, let’s look at how the OIC process works.
The SBA Offer In […]
Bank Workout – What does it Mean for an SBA Loan?
You’ve been late on your small business loan a few months now when the phone call comes. You initially think it’s just your loan office calling once again to try to squeeze some blood from the stone. But this time it is someone else from the […]
When in Default on SBA Loan, does it make sense to hire a Lawyer?
When a struggling small business owner misses a payment on an SBA loan, it is flagged as a troubled loan by the bank. Most of my clients have been diligent about communicating with their bank, so the bank is not really surprised by this event. However, my clients […]