SBA has little clear meaning because it has a clear compromise program. We will start it often and solve the default loan very effectively. Procedures, guidelines, requirements, and resolution process. I can do it. It is difficult to navigate frequently and it is cumbersome to handle, but it will be completed as you understand the process well, practice it, it will work very well.
Katrina's disaster borrowing and other default loan borrowing are not.
For some reason, they have not got a note. They do not recognize any of the process of compromise and behave as if they are not an SBA guaranteed loan. They can not work. We have tried it many times and I know that it is not everywhere every time.
The SBA has decided an infinite wisdom that there is a big difference between direct loaning of funds given by Congress to support disaster situations and guarantee of loans made through traditional banks . For some reason, this is sufficient for there to be a compromise procedure procedure to solve the problem by borrowing the secured loan problem directly from the SBA on banks and direct loan issues.
I do not know why there is a difference. I can not even discern the logic behind such a boundary, but it is there.
The broken disaster loan is sent to the Department of Justice of the US Treasury Department and is handled by a US attorney and the default is prosecuted as a crime.
Currently, we have fully defended this situation through the Federal District Court system, filed a lawsuit in front of the Federal District Court and obtained approximately 90% license with a $ 1.2 million loan, The sad part of this is an illegal legal fee that the borrower had to pay for such justice. Instead of taking a small fortune for legal fees and the years it took it could be used to reduce debt, it was used to prove the point that the borrowers were broken and lost their jobs, a one-quarter I could not pay as well. In fact, the payment consisted of years.
Your home and business are washed away, your entire community is gone, the SBA is moving to the site and offers cash at the site for rebuilding. Rebuilding does not go well, it does not restore business or market, income disappears at first glance, but in the case of the second disaster SBA collected, the borrower never recovered from the disaster Well, the US Treasury Department intends to collect whatever happens.
Despite the facts, disaster loans are not included in this process despite the fact that the SBA has a debt relief plan. The SBA is trying to raise the borrower again, but we will do whatever we can do to recover ... There is no available training until you go to the United States District Court. We know. We have appreciated our gratitude and have not tried. We are losing.
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