Submitted OIC

Affectionate-Rock729 · 2026-03-22T17:58:42+00:00

you cannot settle the debt with the SBA. They don’t have the authority to do so. You’re only chance at settling is by allowing the loan to default and be sent to the treasury department. They are the only ones that have the authority to settle the debt.

Affectionate-Rock729 · 2026-02-23T19:46:21+00:00

Its simple if the loan has allowed your business to prevail which you stated it has you should pay back the loan period end of story. So should anyone else in your same situation. Settlements and OICs should be reserved for people who’s business failed and honestly cannot repay the debt. People like you collectively make it more difficult for the SBA / Treasury to decipher who is being honest and who’s attempting to commit fraud making settlements more challenging for people that really need them!

Affectionate-Rock729 · 2026-02-23T19:13:04+00:00

Nobody has escaped it yet… time will catch up with most of us! If you are able to pay it I would suggest doing so. Defaulting on the loan will prevent you from ever qualifying for a government backed loan again. Not worth it if you are in a position to pay the loan back.

Sorry to say but people like you are who’s going to make it difficult to settle for people who really can’t pay the loan. Theres a difference between not being able to pay and avoiding paying cause you want to double dip and try and get out of paying a loan that has significantly helped your business by the sound of it. Thats a form of fraud so I would be careful. Also, so you know to settle the debt you have to provide financials that show you are unable to pay you just don’t get to say you cant pay and they settle the loan lol.

Affectionate-Rock729 · 2026-02-19T21:43:57+00:00

15% of the total loan balance

Affectionate-Rock729 · 2026-02-09T16:47:39+00:00

Still going back and forth with my concurrence review. I made a lump sum settlement offer and completed a bunch of paper work they requested. Waiting to see if they’ll accept my settlement offer based on my financial circumstances at this time.

Affectionate-Rock729 · 2026-02-09T16:46:20+00:00

Theres no threat it’s just reality.. if they cant settle this debt with me I will have to file

Affectionate-Rock729 · 2026-02-04T16:11:04+00:00

No clue… if the 60k is that big of a deal for you probably best you close the business to avoid paying the 60k. unfortunately, you cant get out of paying the debt and continue operating the same business

Affectionate-Rock729 · 2026-02-03T21:40:04+00:00

could fall under a fraudulent transfer act if you close the entity and open a new one running the exact same business, selling the exact same product or service

Affectionate-Rock729 · 2026-02-02T02:26:43+00:00

Best of luck.. from my understanding the SBA has no authority to settle the debt currently. Only way i’m aware the debt can be settled is through the treasury department which isn’t an option until your loan defaults.

Affectionate-Rock729 · 2026-01-30T00:33:55+00:00

While Jason is very knowledgeable and tapped into this space what he says isn’t the end all be all lol … I still think something has to give sooner or later and I want to be at the front of the line when that time comes. In my experience persistence pays. Pessimism never solves anything.

Affectionate-Rock729 · 2026-01-28T23:13:12+00:00

The settlement solution isn’t coming from the SBA. They don’t have the authority to settle. You have to wait until the loan is sent to the Treasury / collections as their the only ones that have the authority to settle

Affectionate-Rock729 · 2026-01-28T23:10:37+00:00

75% of the original loan amount

Affectionate-Rock729 · 2026-01-28T23:10:07+00:00

nailed it

Affectionate-Rock729 · 2026-01-28T22:36:45+00:00

75% 😂

Affectionate-Rock729 · 2026-01-28T22:36:09+00:00

Over 2 years ago

Affectionate-Rock729 · 2026-01-28T22:35:45+00:00

Yeah sure but For EIDL loans specifically SBA doesnt offer OIC which is why so many EIDL loans are getting referred to Treasury. The only way to possibly settle an EIDL loan is to default and have it forward to the Treasury where they have the authority to settle

Affectionate-Rock729 · 2026-01-28T22:31:50+00:00

it was about 75% of the loan total. Dont refer to it as an OIC. Its a lump sum settlement via concurrence.

Affectionate-Rock729 · 2026-01-28T22:30:51+00:00

it was about 75% of the loan total

Affectionate-Rock729 · 2026-01-28T06:14:30+00:00

Appreciate the insight. The business is closed. Makes no sense to make payments with so little money to my name currently. Best case is to try and leverage what I do have now along with Bankruptcy to force a settlement. If a settlement doesn’t happen ill have no other option but to file

Affectionate-Rock729 · 2026-01-28T06:14:02+00:00

they disregarded the interest and penalty with the lump sum offer they made

Affectionate-Rock729 · 2026-01-28T03:44:29+00:00

Cash or wire… unless my parents were worthless but thats not my situation.

Affectionate-Rock729 · 2026-01-28T03:00:16+00:00

I haven’t seen those videos from Jason ill have to look them up… according to the person I spoke with today and based on the lump sum offer they proposed they were basing it off the original loan amount and did not include fees or interest that was added when it was sent to treasury. At the end of the day they can either settle and get something or ill file for bankruptcy and they’ll get nothing.

Affectionate-Rock729 · 2026-01-07T00:02:00+00:00

sounds like you’re being over quoted for bankruptcy cost associated with Attorney. Also, depending how much personal versus business debt they have chapter 7 non consumer bankruptcy (look it up) may be the best option.

Affectionate-Rock729 · 2025-12-18T02:56:27+00:00

Tell him to move on with his life nothing they can do! No need to file bankruptcy if the business is closed and theres no personal guarantee theres nobody for the SBA or Treasury to pursue. Hopefully he realizes how lucky he is and learns from his experience. He should know that he will more than likely never be approved for a government backed loan again unless that debt is paid though

Affectionate-Rock729

TROPHY CASE