Jimerson Firm
JANUARY 27, 2021
If the borrower is unable to pay the full amount owed on an SBA loan after all of the collateral has been liquidated, the borrower may submit an “offer in compromise.” An offer in comprise allows borrowers to settle their debt on the SBA loan for less than the full amount owed. SOP 50 57 2; SOP 50 55.
Jimerson Firm
AUGUST 7, 2020
When deciding whether to appoint a receiver, the court must consider the following facts and circumstances enumerated in the Act, together with any other relevant facts: Whether appointment of a receiver is necessary to protect the mortgaged property from waste, loss, substantial diminution in value, transfer, dissipation, or impairment; Whether the (..)
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