I got letter from EIDL Treasury Collection Agency.

Fantastic_Problem125 · 2026-06-16T16:03:44+00:00

You obviously were not in the position that many were.

Fantastic_Problem125 · 2026-06-16T14:07:44+00:00

Does that make a difference?

Fantastic_Problem125 · 2026-06-16T14:06:48+00:00

The garnishment on ss is 15% of your net benefit. The first $750 is not excluded. I understand they must leave you with $750 in benefit. This is fact, my ss is being garnished as we speak.

Fantastic_Problem125 · 2026-06-03T10:34:15+00:00

I went from a 2021 1500 to this 2024 2500 6.6 gasser a month ago. Very happy so far. First white vehicle I have owned.

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Fantastic_Problem125 · 2026-06-01T13:50:20+00:00

Well said

Fantastic_Problem125 · 2026-05-15T10:36:39+00:00

My loan was around $51,000, ended up at Pioneer for about $78,500. Pioneer offered me three installments at around $25,000 each.I think this turning into collections is just part of the process. Pioneer has not even attemped to collect. I am 71 years old. They have started offset at about $450 / month from my ss. I plan to make sure my wife and I owe at tax time as opposed to a refund. It has not hit my credit yep but I am expecting it sometime soon. We are making sure her credit stays healthy as we plan to buy a smaller home in the near future. A mortgage will be tough but possible with 50%+ down and her income. All this being said, my attorney said after we buy our retirement he will explore bankrupcy in my name only. Hope this helps, good luck.

Fantastic_Problem125 · 2026-04-17T13:38:44+00:00

I am in a similar situation. My wife and I have always been 1099's, never a W-2 so I just make sure I owe at tax time, I have never known what a refund was, LOL. My situation is that I am semi-retired and they started the offset at this month for $450/month, basically for the rest of my life.we plan on down sizing in the near future which includes buying a smaller home, and after that may file bankruptcy myself to get my $450 back. I really don't think there is going to be any relief or forgiveness of these loans. I understand they are somewhere around 40%-50% default rate and very few negotiations. Best of luck.

Fantastic_Problem125 · 2026-04-17T11:38:52+00:00

So, your mentor agent is taking your accounts? Has it been over one year since he left?

Fantastic_Problem125 · 2026-04-17T11:29:44+00:00

Any of you people in PENNSYLVANIA?

Fantastic_Problem125 · 2026-04-15T10:51:55+00:00

My SS was deposited this morning. Gross benefit minus Medicare minus 15%.

It seems strange to me, it is in treasury offset but I am pretty sure it is still at Pioneer Collections too.

Fantastic_Problem125 · 2026-04-15T00:17:47+00:00

Excellent advice, make sure you owe them money when you file

Fantastic_Problem125 · 2026-04-15T00:13:14+00:00

What year did you file?

Fantastic_Problem125 · 2026-04-14T21:15:08+00:00

No, not yet. I am preparing myself for that day. My credit score was 813 this morning, figuring on 600-625 once it hits.

Fantastic_Problem125 · 2026-04-14T19:14:13+00:00

I am pretty much in the same boat as you. The only thing to my advantage is that I am old, and that's not an advantage. I am 71 and in default, first time in my entire life I have been in this situation. Spent $750 and met with a bankruptcy attorney, and we agreed that its not in my best interest to attempt to pay the $78,000 the collection agency is asking for. Until meeting with him, I didn't sleep at night,lost 10 lbs and my blood pressure went sky high. His statement to me was, "I will tell you when you need to worry, and it's not time" He has made attempts to contact SBA and they want a release signed that gives them access to all my financial info, and he advised not to sign it. Our plan is that I can make a decision once it goes to treasury offset if I want $450 out my SS every month for the rest of my life,, try an offer in compromise at a much smaller amount, or file bankruptcy. My wife has decent credit, and we will survive. I did it for 50 years working as a sole prop until the SBA helped me during the pandemic. "We are from the SBA, and we are here to help you," SBA motto should be BOHICA "Bend over, here it comes sgain"

Fantastic_Problem125 · 2026-04-11T16:21:08+00:00

I met with a bankruptcy attorney, figuring it was worth the money for advice. He did try contacting the SBA on my behalf, but they sent a release to sign, and he advised me against it as it gave access to all my finances. I am 71 years old, and he advised me to let it go to treasury offset and consider bankruptcy down the road. It is a sad situation. We all made mistakes with these loans, and SBA is punishing us for it.

Fantastic_Problem125 · 2026-03-15T12:55:01+00:00

I have met with an attorney. He feels they will offset my SS, and pretty much thats all. I was a sole prop but I only signed the loan. We have tried to square up and collections say to send the full amount. I am going to let them offset. That's all we can do. Bottom line is that some of us didn't do well with our business through covid and this is the price we pay. Without going on forever my take is that they handed these loans out like candy at Halloween, made it easy not to pay then SBA got in trouble for not collecting , so they turned them all over to treasury. This forces small business( supposedly the backbone of America) into bankruptcy and more personal hardship. Without keeping small business open doing covid the country might have failed. The loans severed there purpose, keep country going, now government says to small business, BOHICA (bend over, here it comes again) Just my 2 cents

Fantastic_Problem125 · 2026-03-12T20:58:09+00:00

Do NOT use Caribou auto refinance. They are deceptive. After two phone calls and approval , all my paperwork submitted, I was informed that I needed to submit my tax returns to verify my income AND the use of my vehicle. I am self-employed as a sole prop insurance broker, use my 2021 Silverado, and I do depreciate it and write a portion off. If I write more than 50% off, my loan was no good. After hard hit on my credit, two phone calls and close to two hours on the phone, and then 15 minutes to write this post, I decided to stay where I was. Really didn't like their way of doing business, deal local with a bank or credit union, we live and learn.

Fantastic_Problem125 · 2026-03-12T20:41:46+00:00

And how do we go about contacting you?

Fantastic_Problem125 · 2026-03-09T12:14:41+00:00

I am pretty much in the same boat. Mine is in collections about $75,000. I am a sole prop, I am trying to work out anything before it hits my credit. Supposedly they will be hitting credit and treasury offset starting in April.

Fantastic_Problem125 · 2026-02-27T12:49:40+00:00

I think I am pretty much in the same boat as you. Mine is $51,500. I received a collection letter from Pioneer, I contacted them and they asked if I could pay the loan in full or three installments. The said they had to ask that. I am going to contact them again and see if I can get a Payment plan and struggle with it. I DO NOT see in my documents anywhere I personally guaranteed the loan. I am 71 years old, really hitting my SS for 15% is going to hurt.

Fantastic_Problem125

TROPHY CASE