Is there any prohibition on discharging loans owed to SBA (Small Business Administration). SBA is a governmental entity
Posted: Tue May 06, 2008 2:23 pm
050608
Question for CDCBAA members, from KPMarch:
Is there any prohibition on discharging loans owed to SBA (Small Business
Administration). SBA is a governmental entity, so loan is money owed to a
governmental entity, but not a tax, fine, restitution, etc.
Have CDCBAA attorneys had any instances of SBA claiming that a loan owed to
SBA is nondischargeable for any reason? Have CDCBAA attorneys scheduled and
had SBA loans discharged without any problem?
Past clients my firm had always had SECURED SBA loans.
Now my firm has 2 different clients with UNSECURED SBA loans. PS: If
anyone knows of any relevant Code cite or caselaw, please REPLY to tell me.
I took a quick (10 minute) look on Westlaw, didn't see anything definitive.
Thx all.
KPMarch
Kathleen P. March, Esq.
The Bankruptcy Law Firm, PC
10524 W. Pico Blvd, Suite 212
Los Angeles, CA 90064
Phone 310-559-9224
Fax 310-559-9133
Website: www.BKYLAWFIRM.com
E-Mail: kmarch@BKYLAWFIRM.com
Have a former Bankruptcy Judge for your personal bankruptcy attorney
Is there any prohibition on discharging loans owed to SBA (Small Business Administration). SBA is a governmental entity, so loan is money owed to a governmental entity, but not a tax, fine, restitution, etc.
050608
Question for CDCBAA members, from KPMarch:
Is there any prohibition on discharging loans owed to SBA (Small Business Administration). SBA is a governmental entity, so loan is money owed to a governmental entity, but not a tax, fine, restitution, etc.
Have CDCBAA attorneys had any instances of SBA claiming that a loan owed to SBA is nondischargeable for any reason? Have CDCBAA attorneys scheduled and had SBA loans discharged without any problem?
Past clients my firm had always had SECURED SBA loans.
Now my firm has 2 different clients with UNSECURED SBA loans. PS: If anyone knows of any relevant Code cite or caselaw, please REPLY to tell me. I took a quick (10 minute) look on Westlaw, didn't see anything definitive. Thx all.
KPMarch
Kathleen P. March, Esq.
The Bankruptcy Law Firm, PC
10524 W. Pico Blvd, Suite 212
Los Angeles, CA 90064
Phone 310-559-9224
Fax 310-559-9133
Website:
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