Is there any prohibition on discharging loans owed to SBA (Small Business Administration). SBA is a governmental entity
Posted: Tue May 06, 2008 4:15 pm
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.
My clients have always had their unsecured SBA loans discharged without incident.
______________________
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
This Firm is a Qualified Federal Debt Relief Agency
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----- Original Message -----
To: cdcbaa@yahoogroups.com
Sent: Tuesday, May 06, 2008 2:23 PM
Subject: [cdcbaa] 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: 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.
My clients have always had their unsecured SBA
loans discharged without incident.
______________________Mark J. MarkusLaw
Office of Mark J. Markus11684 Ventura Blvd. PMB #403Studio City, CA91604-2652(818)509-1173 (818)509-1460 (fax)web: http://www.bklaw.com/This Firm is aQualified Federal Debt Relief Agency___________NOTICE: This Electronic
Message contains information from the law office of Mark J. Markus that may be
privileged. The information is intended for the use of the addresseeonly. If you are not the addressee, note that any disclosure, copy,
distribution or use of the contents of this message is prohibited.IRS
CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS,
we inform you that any U.S. tax advice contained in this communication (or in
any attachment) is not intended or written to be used, and cannot be used, for
the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii)
promoting, marketing or recommending to another party any transaction or
matter addressed in this communication (or in any attachment).
----- Original Message -----
From:
K. P.
March
To: cdcbaa@yahoogroups.com
Sent: Tuesday, May 06, 2008 2:23 PM
Subject: [cdcbaa] 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
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