Owing the federal government a debt can be a frightening experience. Once your defaulted SBA loan makes it was to the Treasury, it is likely that you will soon be contacted by one of the collection agencies that handles the collection of government debts. The calls...
General notification Before referring a debt for collection by administrative offset, a creditor agency must provide each debtor with: (a) a written notification of the nature and the amount of the debt, the intention of the agency to collect the debt through...
Depending on whether you are in a community property state or not, all or part of your income may be liable for the debts of your spouse, even those incurred prior to marriage. However, you personally are not liable for his/her debts. Sometimes that is of small...
The Treasury Offset Program is not subject to a statute of limitations and can collect on the defaulted SBA loan indefinitely. The Treasury can, among other things, garnish wages, even in states where wage garnishment by creditors is generally prohibited. The Treasury...
