We really got a call concerning this today. The business ceased operations years ago in this case. It had no assets or earnings. We asked the caller if he planned to ever make use of that entity once again. He failed to. So in that instance, https://speedyloan.net/installment-loans-id we don’t see any explanation to accomplish such a thing.
But let’s clarify one thing here. The page had been addressed to the company. When there is no individual obligation, then if it had been me personally, I’d do absolutely nothing.
Why would i actually do absolutely absolutely nothing?
In the event that continuing company does not have any earnings or assets, and it is planning to never run once again, the SBA does not have any recourse right here.
I’d like to state it once more: this will be just relevant to situations whenever only the continuing company is liable. In the event that you got a letter addressed to you, you’ll want to deal with is ASAP. You individually, it’ll go to Treasury! In the event that you disregard the 60-day page addressed to. We vow, you don’t want that.
Will the SBA accept a repayment arrange for an Offer In Compromise?
They are going to think about payments that are monthly but as SBA Form 1150 states, they choose a lump sum payment.
Clients usually want to know under what circumstances the financial institution and SBA will think about a re re payment plan. Read More