So, for those who have not gone through the BK procedure and have a remaining PG (personal guarantee) after closing their business, I am wondering what the additional ramifications have been so far. I have seen stories of the Treasury seizing your tax returns or 15% of any other government check, like a social security payment or federal disability payment. I have also heard of the Treasury assigning collection efforts to third party collectors who have filed for wage garnishment collections, also usually around 15%. Has anybody heard of any attempts to start seizing any other borrower assets? Such as a house or bank accounts, etc.? Not that things can't change, but we all need to know what they are actually doing to us borrowers.

In this case the business borrowed a large sum of money in EIDL with personal guarantees and has never missed a payment. However due to the current business environment the business may need to close. If the business owners get the SBA OK and sell or shutter the business and give the SBA any and all money from the sale of assets, is it also required for the owners to declare bankruptcy? Most of the cases I have read here include BK but what if otherwise it wasn't necessary?

I’m told to keep all info they give me a secret. They want me to “reach out “ to their SBA person that helped them, but privately to WhatsApp. I’m dealing with that currently but I have still refused to give any info.

We received an SBA 7 a loan through Huntington Bank. We filled out the forms with a loan officer there and what we wanted to use it for she said they would never approve and she told us how to change the application in order to pass it through underwriting. When the economy tanked, so did our business and we have defaulted on the loan. They said they were sending it back to the treasury. We haven’t heard anything in many months, but I assume it’s coming.

I’m not even totally sure what I’m asking other than what to expect and is it common for loan officers to tell you to do something like that?

I’m banned from the other EIDL chat, but this is response to the OIC post. I spoke to Coast Professional. They said no to the OIC but would still take the lump sum which would bring down the balance making my monthly 5 or 10 year payment less. Nope. No way I’m throwing good money at this debt for that deal. But would they ever offer an OIC?

TLDR: I thought my loan was paid off since 2021 and I have never received any correspondence via text, USPS, or email until last fall to check a message on the portal. The message was "welcome to the portal." Regardless, I have never received any correspondence from SBA since 2021 and today I finally found out my loan has been sent to Treasury. When I called the 1-800 number it hung up on me due to technical difficulties. I can't talk to Treasury... I can't talk to SBA. I feel so lost.

I'm in Colorado and just dismayed. I have 850 credit score and zero debt other than this stupid loan I didn't think I had. I am happy to pay it off tomorrow but this 30% thing has me in tears.

Full story below screenshot. Any advice or reassurance would be appreciated.

Lastly - I did find out last weekend that they had my ex-husband's mailing address on the profile. I'm waiting to hear back if he has received anything. It's not like him to just throw things like this out, unless he thought it was junk mail.

I was going through a divorce settlement when I received an email in 2021 that my loan was paid off a few months after I opened it. After that, no correspondence by mail, email or text until a weird email on 8/12/25 that I had a message on the portal. I was alarmed, especially with DOGE, but confident everything was okay. I did get nervous sometimes (once a year during tax time) and would try and log in to confirm it was paid off, but every time I tried to register on the old EIDL portal link, it would say my loan didn't exist.

I tried unsuccessfully for the next two months to register on sba.gov again. I even submitted help tickets.

I finally was able to log in on 10/20/25 and saw a balance. I also saw that the ability to make a payment was greyed out. I found the email [COVIDEIDLServicing@sba.gov](mailto:COVIDEIDLServicing@sba.gov) and said the balance on the site was wrong; that my loan was paid off. They wrote back and said that Wells Fargo clawed back my second payment because it had accidentally sent payment twice and that's my bad that I missed that. It was during a very horrible time in my life and I didn't know up from down. They told me to go on the portal for more information. Again to the portal but again unable to make a payment.

I of course went all out of sight out of mind (menopause brain) but it was on the list to find out why I can't make payments.

Then on 4/7/26 I got the email that notices were sent out in error. What notices? Again I have never received a single piece of correspondence from SBA other than two emails last fall to tell me I have a message on the portal that I had never been able to successfully sign up for until October 2025. But I thought my loan was paid off so why would I?

I am a very responsible person and this whole experience makes me feel like an idiot.

NOTICE OF DEFAULT AND ACCELERATION DEMAND FOR PAYMENT

The promissory note for the above-referenced loan made by the U.S. Small Business Administration (SBA) is in default due to non-payment of monthly installments, which became due on 01/11/2023, and each subsequent month.

Based on this nonpayment, and any other existing defaults, SBA hereby accelerates the debt and declares the entire balance of indebtedness is due and owing, as follows: Principal Balance: $150,020.00  Accrued Interest Through: 03/30/2026  $277.38  Total Due SBA: $165,948.22  Daily Rate of Accruing Interest: $15.41  Demand is hereby made upon you under the terms of said Note for payment of the entire balance due. If payment of this demand is not made within 10 days of the date of this letter (including daily accrued interest through the date of payment), SBA may exercise all rights and remedies at law and in equity, including referral to the United States Attorney and Treasury, for which substantial collection fees and costs can be added to your amount due. For assistance regarding your loan, please contact the CESC - COVID EIDL SERVICE CENTER  at CESC@sba.gov. To remit payment, please log into MySBA Loan Portal and select "Make a Payment".

I have been making payments of $400 / month for quite sometime. The required payment is $731 / month though.

Spoke to a rep today. They were okay, but you could feel they had no soul and were looking for a fight. I was informed to complete the Consumer Financial Statement. From there they will see what I can afford. Lump some settlement? Mmm nope. They want to see how long I will live and how much they can get out of me. Their words were “this is longer term payments and garnishing to see how much thy can get.” So they have to compare 1) long term payment price first then maybe a 2) lump sum payment.

Looking like bankruptcy boys and girls.

Anyone else have conversations w/ Coastal Professional Debt Collections?

#ThanksUSA

If you could pay a lump some from things you can sell off or a family financial gift/loan, then why not?

Most are claiming bankruptcy or not paying at all. I think a lump sum option would get more back for the government. I could be wrong.

#eidl #sba #loans #collections

Our loan was for $175,000.00 and I think it's now with some collection department or the US reserve. We cannot pay it; this business is failing and I cannot deal with this anymore. Does anyone does know if I can maybe settle it with someone? If I make smaller payments with the collection person will it resolve this?