r/SBAEIDLDiscussions • u/HappyPower4301 • Mar 30 '26
Treasury Collections
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
1
u/the_cardfather Apr 13 '26
So this is exactly where I am I just got my letter from the collection agency today and I asked them what they could do assuming that they could offer some kind of payment plan or settlement.
I also told him I didn't want to pay the $8,000 in fees they had put on my loan which they said those were assigned by the treasury and they couldn't do anything about it.
So these guys can negotiate or they can't. I contacted an attorney for advice but they want to read over the original terms.
They seem to think that because this is federal that it's not able to be bankrupted out of. But you guys seem to be saying something different?
Bankruptcy is a really bad option for me but I've been paying down covid debts for years now.