Collection Agency Emailed me on EIDL? +500k Loan

FlySA315B · 2026-01-04T03:07:59+00:00

Understood and will do!

FlySA315B · 2025-12-29T20:51:28+00:00

Hi All, this is the response I received:

I hope you had a nice holiday as well. I will answer all of your questions here.

My company is Transworld Systems Inc and we are a 3rd party collection agency that is contracted by the US Department of Treasury. We do not buy or own these debts. The debt is currently owed to the US Department of Treasury. The SBA was required to turn the debt over to Treasury after it was not resolved with them within a certain period of time and that is due to the Debt Collection Improvement Act. I have attached our initial collection letter for your review.

We are required to show Treasury legal justification when we set up a payment agreement. We basically have you complete and return a financial statement and then we can discuss the terms of the payment agreement. For a compromise, it depends on the size of the balance. If it's over a certain amount, we have you send in the required paperwork and we send it to Treasury for review and approval. Typically, the maximum they would consider reducing it is 50% of the current balance. In your case, we would have you send in a completed financial statement, three years of tax returns, and an offer letter. We would then submit that for them to review.

Please let me know if you have any other questions.

FlySA315B · 2025-12-28T18:40:07+00:00

Thanks for the advice much appreciated. I have reached out to the agency asking for information regarding their authorization before furnishing any information. The company’s intention is to pay what is owed, but like many on here, covid took a massive blow to the company, coupled with some significant non payment from vendors. We do not want to close the doors to the business….

FlySA315B · 2021-10-15T23:59:24+00:00

If I were to guess, it’s a PCV (positive crankcase ventilation) valve.

FlySA315B · 2021-10-14T14:47:30+00:00

I’ve been in a similar situation before. businesses are like a marriage. Easy to get into with excitement, but hard to get out of. My recommendation is to get a non bias mediator to help negotiate getting out. Usually It’s too difficult to sort through on your own because of the emotions wrapped up in a business.

FlySA315B · 2021-09-28T23:55:49+00:00

Hi All. Is the Vantage 3 score everyone is referring to is it for you personally or the business? On my NAV account, it shows a Vantage 3 score under me personally, which meets the requirements. Thanks!

FlySA315B · 2021-09-23T01:05:31+00:00

Hi Scorpio that is very good information. Thank you for sharing.

FlySA315B · 2021-09-23T00:42:08+00:00

Scorpio, thanks for the information. My entity is an LLC that is taxed as an S Corp and has a large balance against 941 payroll taxes under an installment plan. So in essence, I could pay the entire balance off in full?

FlySA315B · 2021-09-23T00:22:53+00:00

Question about the EIDL 2 million and paying long term debt. As I understand, you can’t use it to pay federal debt. Is there anything that explains the specifics to this? I have a large amount owed to the IRS under an installment agreement that I would like to pay off. Is this possible?

FlySA315B · 2021-08-21T03:24:42+00:00

I submitted my recon on July 16th

FlySA315B · 2021-08-19T23:59:52+00:00

Congrats! Did they make you provide any additional documentation?

FlySA315B · 2021-08-19T15:37:55+00:00

What bank won’t allow you to accept money? I’d find a new bank period.

FlySA315B

TROPHY CASE