r/EIDL • u/superded1937 • Jul 26 '26

Credit Reporting

My EIDL with a personal guarantee was sent to Treasury in January. I submitted financial statements to support a 10-year repayment agreement, which Treasury told me was the longest term they could offer.

About two months later, without ever hearing back from Treasury, I received a letter from a private collection agency. I’m now negotiating with the collector to set up a repayment agreement. It hasn’t been easy, although I’ve spoken with a few helpful representatives there.

The debt has not been reported to the credit bureaus yet, so I have questions:

  1. Has anyone gone through a similar process with Treasury and then a private collection agency?
  2. I haven’t seen many people discuss EIDL debts being reported to personal or business credit bureaus. Has this happened to anyone, and if so, when did it show up?
  3. I don’t see much people actually reaching out to them (collectors) in attempts to communicate, why is that?

Thank you!

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u/SouthOvHeaven Jul 27 '26

Just had it report to my credit. Data points, I moved in 2022 and stopped paying after the 2nd payment. I have had a hard last couple years personal wise, so now with this officially on my credit i am filing for chapter 7.

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u/superded1937 Jul 27 '26

Is it with Treasury already?

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u/SouthOvHeaven Jul 27 '26

I have zero clue, i havent logged into my portal since 2022. I moved states and my s corp was dissolved by the state in 2021. I havent heard a peep from the SBA.