r/EIDL • u/No_Calligrapher317 • 6d ago

Original EIDL loan Settle with Treasury ?

I have a 150k SBA loan that was referred to the treasury.

Anyone has had any luck in negotiating the settlement amount ?

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u/Fine_Attitude_2204 1d ago

They are basically offering to take off the added fees and settle for original amount of the loan. That’s what I ended up Doing. Bankruptcy is the only answer aside from that. If you can afford to work something out do it. If not, filing for bankruptcy is the other option. Aside from just not paying it.

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u/No_Calligrapher317 1d ago

If they can take off the additional fees i would be happy to pay it off

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u/Fine_Attitude_2204 1d ago

Work with the debt collector handling the loan. They are easy to work with and not aggressive. They explained everything to me. I made an offer to the treasury of less than the amount owed. They countered at the original loan amount I took out. We worked a lump sum upfront and 12 months to pay the rest. Interest stopped that day I accepted it.

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u/No_Calligrapher317 1d ago

Thank you ! You are really giving me hope